Markets Rally to Open, IMF Weighs In

Wall Street opened strong in its first few moments of trading, with the Dow shooting up more than 130 points, or about 1.3 percent, by 9:45 a.m. The S&P 500 was up about 1.2 percent and the Nasdaq up about .7 percent.

Meanwhile, the International Monetary Fund decided to see what all the ruckus is about and issued a strongly worded look at the situation, noting in measured tones that "the state of the global financial system has worsened" since the IMF's last assessment.

Which came in April.

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Here's the whole IMF statement.

-- Frank Ahrens