On 13 October 2008, the Dow Jones Industrial Average rose $936.42 from the previous day to $9,387.61, recording its largest gain ever. Reports attributed the positive market response to coordinated action by the G7 aimed at averting a financial crisis after the Lehman shock.
On 13 October 2008, the Dow Jones Industrial Average surged $936.42 from the previous day to $9,387.61, recording its largest gain ever. A synchronized rebound gathered pace across major markets, and coordinated action aimed at averting a financial crisis was welcomed. Reports said this brought a degree of calm to turmoil in global markets.
Following the collapse of Lehman Brothers, distrust spread through financial markets, at times making day-to-day funding difficult. Finance authorities and central banks in various countries announced plans to provide large amounts of liquidity and stated that they would make every effort to avert a financial crisis, easing market concerns.
The U.S. market rebounded after its sharp declines through the previous week and ended trading on 13 October substantially higher. Views spread that international coordination efforts had achieved a measure of success.