Financial markets soared Thursday after the Federal Reserve announced its new program to buy financial assets to inject money into the U.S. economy.
The surge began midday, as the central bank unveiled its third round of quantitative easing, or QE3. The S&P 500 climbed 1.6 percent, to close at 1459.99. The Dow Jones industrial average jumped 206 points, or 1.5 percent, to 13,539.86. Both indicators closed at their highest levels since December 2007.