Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Wall Street Roller Coaster: Dow Closes Up 429 Points Today
By
Jen Chung
Published Aug 9, 2011
Modified Aug 9, 2011
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Aug 9, 2011
Modified Aug 9, 2011
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Wall Street decided to have a better time today. After yesterday's sixth worst day ever, the Dow Jones Industrial Average closed 429 points up (+3.98%) today, closing at 11,239.77. The S&P 500 soared 5.29% as did Nasdaq, up 4.74%. It helped that the Federal Reserve said it would not raise interest rates "at least through mid-2013."
According to the Wall Street Journal, "Voting against the action were president from three regional Fed banks -- Richard Fisher of Dallas, Narayana Kocherlakota of Minneapolis and Charles Plosser of Philadelphia. The Fed statement said those officials "would have preferred to continue to describe economic conditions as likely to warrant exceptionally low levels for the federal funds rate for an extended period."
The stock market still swung wildly today: Before 3 p.m., the Dow fell about over 200 points before climbing back up. One market strategist told the NY Times, "It’s going to be an up and down market. It’s like water, it finds its right level."
Tagged
credit rating
dow jones
economy
federal reserve
interest rate
s&P 500
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Gatorade recall affects drinks sold in New York and New Jersey
More than 122,000 cases are being recalled over undeclared food dyes.
By
Giulia Heyward
Published Oct 5, 2026 at 4:36 p.m. ET
Gov. Hochul declares upstate NY measles outbreak a ‘disaster emergency’
The declaration is driven by rising case counts in rural areas and in neighboring Pennsylvania.
By
Caroline Lewis
News
Gov. Hochul declares upstate NY measles outbreak a ‘disaster emergency’
The declaration is driven by rising case counts in rural areas and in neighboring Pennsylvania.
By
Caroline Lewis
NYPD detective forced to retire after false statements in Brooklyn investigation
By
Charles Lane
Mamdani faces pressure to forge ahead with plan to fix polluting South Bronx market
By
Elizabeth Kim
Dominican man who shot border patrol officer in NYC sentenced to 15 years in prison
By
Samantha Max
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .