Dow Jones (DJI) hits the lowest of 7,774 on friday, 10 Oct 2008.
The next day morning, G7 announced the Extraordinary Steps to Restore Market Confident and Stability.
" Take steps to unfreeze credit and money markets and ensure that banks and other institutions have broad access to liquidity and funding.
Technically all the measures are likely to hold DJI from further meltdown, the lowest at 7774 will be a support in this case.
The next day morning, G7 announced the Extraordinary Steps to Restore Market Confident and Stability.
" Take steps to unfreeze credit and money markets and ensure that banks and other institutions have broad access to liquidity and funding.
Ensure that banks and other major financial intermediaries can raise enough capital from public and private sources to re-establish confidence and kick start lending to individuals and businesses.
Ensure that each country's deposit insurance programs are strong and consistent to assure depositors their money is safe.
Take action to restart the secondary markets for mortgages and other securitized assets."
America and England governments may take over ownership stakes of some banks, to restore bank liquidity and to help unlock lending besides secures financial industry from further meltdown.Technically all the measures are likely to hold DJI from further meltdown, the lowest at 7774 will be a support in this case.
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