Skip to content
Subscriber Only

Global Stocks Surge Most Since 2012 on Stimulus Bets, Oil Rally

  • Brent crude rises more than 8% to trade at $31.60 a barrel
  • U.S. shares add to rally, poised for first weekly gain of year
Bloomberg business news

Nouriel Roubini: Global Economy Not Back to 2008

Updated on

Global stocks surged the most in 3 1/2 years, as U.S. equities joined a rally that pushed oil to its best two days since 2009 on speculation that central banks will expand stimulus measures to counter turmoil in financial markets. Haven assets from Treasuries to gold retreated.

MSCI Inc.’s gauge of the world’s equities climbed 2.6 percent as benchmarks from Asia to Europe and America rebounded from one of the worst starts to a year on record. The Standard & Poor’s 500 Index capped its best day in six weeks. European shares enjoyed the biggest two-day rally since 2011, while the euro fell to a two-week low on the European Central Bank’s signal it may bolster economic support. Asian stocks climbed the most since September on speculation Japan and China may also take steps to calm markets. Yields on 10-year Treasury notes rose above 2.05 percent.