It's only a minor market correction!

The debt problem in Europe is being addressed by EU and recieved well by global stock market. (Pls read on)..

Stocks jump on hopes for Greece debt rescue
Stocks leap on hopes EU will help Greece with debt; Dow jumps 150, moves back above 10,000

AP - Traders Robert Maher, left, and Anthony Alvarino work on the floor of the New York Stock Exchange Tuesday, ...
By Tim Paradis, AP Business Writer , On Tuesday February 9, 2010, 6:09 pm EST
NEW YORK (AP) -- The Dow Jones industrial average jumped back above 10,000 on hope that a resolution was near for Greece's debt crisis.

The Dow rose 150 points Tuesday, a day after closing below 10,000 for the first time in three months. The major indexes all gained more than 1 percent. Treasury prices slid as demand for safer investments fell.

Global markets bounced back on reports that plans are being developed in the European Union to rescue Greece. That raised hopes that policymakers will take bigger steps to contain debt troubles in other weak European economies including Portugal and Spain.

Though Greece's economy is small, that country's yawning budget gaps were undermining faith in the euro, Europe's common currency. Investors also believed that other countries might have trouble raising money in debt markets, which would hamper efforts to get their economies going again.

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