Stocks end higher after Fed keeps rates unchanged

NEW YORK (AP) -- Wall Street has ended another tumultuous day with a big gain, partly recovering from its worst sell-off in years after the Federal Reserve said it was keeping interest rates steady. The Fed soothed fears of a worsening financial crisis even as the market waited to learn the fate of troubled insurer American International Group Inc.

The Fed signaled that while there are growing strains in the financial markets, it expects its earlier rate cuts and efforts to boost liquidity in the banking sector and help the economy.

The Dow Jones industrial average is ending up 141 at the 11,059 level after. On Monday, the Dow tumbled 504 points, its largest drop since the September 2001 terror attacks.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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