Baja Real Estate & Economy News (CNN) -- Markets across the world made impressive gains Monday after European banks followed Britain's lead and announced huge bailouts for their banking sectors.
European, Asian and U.S. markets closed higher with the New York Dow Jones scoring a record point gain for a single day of 936.
Other New York markets, the Nasdaq and the S&P also gained more than 10 percent on the day. In Europe, the French CAC 40 and the German DAX also had gains of more than 10 percent.
London's FTSE 100 finished 8.26 percent higher, while Asian markets saw similar large gains of between 7-10 percent.
"Seeing that there's going to be more of a global commitment to resolving the financial crisis has given confidence to investors and gotten them to put some money to work," Christopher Colarik, portfolio manager at Glenmede Investment Management, told CNNMoney.
The world's major economic powers were forced into action after weeks of turmoil on financial markets saw trillions wiped off the value of stocks.
Most troubling was the collapse in confidence and supply of liquidity in major banks, burdened by unknown amounts of bad debs related to sub-prime mortgages.
The markets responded after European leaders, led by UK Prime Minister Gordon Brown outlined plans which will see more than a trillion dollars pumped into the banking sector.
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(CNN) -- Markets across the world made impressive gains Monday after European banks followed Britain's lead and announced huge bailouts for their banking sectors.
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