By Daniel Trotta 18 minutes ago NEW YORK (Reuters) - The United States ushered in a new era in banking on Tuesday with plans to take equity stakes worth up to $250 billion in financial institutions, an incursion into the private sector that U.S. officials called a regrettable last resort.The U.S. government followed European powers that agreed to recapitalize their banks a day earlier, triggering a global stock market rebound that continued on Tuesday when Wall Street rallied 4 percent at the open before falling back on recession concerns. and the S&P 500 were down 2 percent in afternoon trading. Both indexes on Monday registered their biggest one-day point gain in the wake of last week's panic sell-off.
Prices for U.S. Treasuries fell as the bank rescue plan made them less attractive as a safe haven.
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