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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.

Thanks for checking in!

Here's the whole IMF statement.

-- Frank Ahrens

By Frank Ahrens  |  October 7, 2008; 9:51 AM ET
Categories:  The Ticker  
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Comments

Oh, good old IMF. Now you are surfacing. What can you do for us? or IMF becomes irrelevant?

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Posted by: IMF who? | October 7, 1908 11:45 AM | Report abuse

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