|From: CASHRICHFIELD (Rep: 47)||Date: 03/24/2020 23:14|
|Forum: DOW JONES INDUSTRIAL AVERAGE INDEX - Msg #4550||Thread #674136073 (Rec: 0) |
|DJIA 11.37% Gain Biggest since 1933|
The Dow Jones Industrials closed up 2,112.98 points to 20,704.91 today. This is the biggest percentage gain since March 15th, 1933 when the index closed up 15.34% or 8.62 points to close at 62.10
It took the signing of the Emergency Banking Act by Pres. Roosevelt to save the nation’s finances after the Great Depression.
The Act temporarily took the United States off of the gold standard. (One month later FDR would criminalize gold ownership).The Act authorized the Federal Reserve to inject capital and/or provide loans to banks. Most important the FDIC was created and the US Government was now guaranteeing all banking deposits.
With the big percentage gain in the DJIA today it has become vital that the U.S. Government stabilizes the economic environment with confidence as bearish sentiments continue to reign.
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