In an option aptly called "the nuclear option," governments that use the euro will join the European Union and the IMF in putting up $965 billion, while the U. S. Federal Reserve and other Central Banks reactivated a currency swap program to help reach the $1 trillion mark.
Markets opened with a shot Monday morning, as the euro rose to $1.30 with news of the deal, as did a number of other markets throughout the international community.
- CurrencyShares Euro Trust (NYSEArca: FXE )
- iShares MSCI EMU Index (NYSEArca: EZU )
The mortgage finance company, Fannie Mae, (NYSE: FNM ), is asking for an additional $8.4 billion in government bailout money after posting first-quarter losses of $13.1 billion, or $2.29 per share.
Financial regulators have asked the heads of major exchanges including the New York Stock Exchange Euronext and NASDAQ OMX Group to come to Washington to discuss last Thursday's historic stock market plunge, and whether conflicting trading rules played a part.
The SEC is leading the investigation into the massive computerized sell-off, which caused the Dow Jones Industrial Average to drop nearly 1,000 points, and are worried that conflicting rules used by different exchanges could have been the cause. [ ETF Lessons from the Market's Sell-Off. ]
Aaron Hurst contributed to this article
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
