NEW YORK - US stocks rebounded at the open on Thursday as a massive liquidity effort by global central banks appeared to calm markets a day after a feverish rush to safe-haven assets.
The Dow Jones Industrial Average jumped 134.26 points (1.27 per cent) to 10,743.92 in the first trades a day after a rout that saw the blue-chip index lose 449 points.
The tech-heavy Nasdaq rallied 45.74 points (2.18 per cent) to 2,144.59 and the Standard & Poor's 500 index advanced 19.30 points (1.67 per cent) to 1,175.69.
Market action came as the world's top central banks announced a huge operation to boost the volume of dollars available to strangled money markets as global financial turmoil ripped deeper into confidence.
A day earlier, global markets were roiled by an unprecedented rush to safe-haven assets including gold, oil and US Treasury bills.
'For the time being, this (central bank action) has stabilised the financial system,' said Mr Andrew Busch at BMO Capital Markets. -- AFP
