Dow climbs more than 250 points

By 11:15 a.m. the Dow Jones Industrial Average was higher by more than 255 points or 3.5 percent, climbing over the 8,000 mark for the first time since February.

According to the Wall Street Journal, bank stocks rallied as the Financial Accounting Standards Board voted to relax fair-value accounting rules, giving auditors more flexibility in valuing illiquid assets.

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