Stocks soar after government bailout of Citigroup

New York, NY, USA Investors are hoping the rescue of Citigroup will help lift some of the uncertainty hounding the financial sector and the overall economy. Many observers saw the move as offering a template for how the government might carry out other bank stabilizations if they are needed.

Still, the market remains wary, especially with the economy in a serious downturn. The Dow was up more than 500 points in the last hour before giving up some of its gains -- many investors wanted to take some money off the table before the next bit of bad news arrives.

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