Stocks on Wall Street are rising at the start of trading on Tuesday, with the Dow Jones index gaining nearly 200 points in the first 30 minutes after the opening of the New York Stock Exchange (NYSE).
The rise followed yesterday's record drop of 778 points or seven percent, triggered by Congress's rejection of the government's $700 billion bailout plan for the troubled financial system.
At 10:00 AM Eastern Standard Time (EST), the Dow Jones index was up by 196.25 points to 10,056.94 points.
The overnight lending rate among banks, known as the Libor rate, increased on Tuesday by 431 basis points to a record 6.88 percent, adding further pressure to the financial system, reported the business agency Bloomberg. (Hina)
