European Central Bank announces stimulus measures


REUTERS: The U.S. stock market rallied after hearing the news.

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REUTERS: The U.S. stock market rallied after hearing the news.

The ECB will buy 60 billion euros worth of assets per month, an amount that was more than expected, in a program that will last through September 2016.

While U.S. stocks were volatile after ECB President Mario Draghi’s news conference, shares in Europe .FTEU3 jumped 1.5 percent.

“When you have every central bank in the world trying to stimulate the global economy, that’s a tough thing for asset prices to fight against,” said Wayne Kaufman, chief market analyst at Phoenix Financial Services in New York.

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