Is 4200 the new bottom. It's just been confirmed once and the Australian S&P 200 bounced back into 4300s range. I guess there was an important announcement about 20 minutes ago and it jumped about 100 points.
Update: Right. Multiple central banks announced rate cuts worldwide. There was rumor about concerted effort to be done by central banks around the world and I guess this is it.
Update: Right. Multiple central banks announced rate cuts worldwide. There was rumor about concerted effort to be done by central banks around the world and I guess this is it.
* Fed cuts rates by 50 basis points
* China, ECB, Britain, Canada, Swiss and Sweden cut
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