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Stocks bounce as Bush pledges rescue plan revival

Staff Reporter 1 minute read

US stocks made their biggest one day jump in six years overnight, as expectations grow that an adjusted bank rescue plan will make it through Congress before the week is out.

The Dow recovered almost 500 of the 778 points lost in Monday’s biggest ever one-day sell-off, after President Bush addressed the nation, pledging to continue talks to secure a financial rescue package.

“I'm disappointed by the outcome, but I assure our citizens and citizens around the world that this is not the end of the legislative process,” Mr Bush said.

Back home, the ASX is expected to open stronger, after falling by more than 200 points on Tuesday.

Published: 01-10-08

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