The plan announced earlier in the day by
That's good news for large U.S. banks that own European debt or are otherwise exposed via complex derivatives trades that they conduct with their counterparts in
The risk of a worsening debt crisis in
The ECB's plan appeared to ease investors' concerns, at least for now, sending major U.S. bank stocks as well as the broader market higher in afternoon trading on Thursday.
The Dow Jones Industrial Average was up about 230 points, or 1.8 percent, to 13,277, while the
Major U.S. banks got a decidedly bigger lift, however.
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