The Federal Reserve, along with five other central banks, acted Wednesday to make it cheaper for banks around the world to borrow U.S. dollars.
The move is designed to lower the cost of short-term borrowing for troubled European banks, thereby helping the global economy to avoid a credit crunch. The news sent stocks soaring Wednesday, with all three major stock indexes closing the day up more than 4%. The Dow's 489-point gain was the largest of 2011 and the best percentage gain since March 2009.
Christine Romans sits down with Matt McCall, president of Penn Financial Group, to discuss what this news means for your investments.