SAN FRANCISCO (MarketWatch) -- The Group of 20 Finance Ministers and Central Bank Governors is planning a $600 billion fund for the International Monetary Fund to deal with the European debt crisis, according to Nikkei.com in a Thursday-dated online report.
According to Nikkei, key G-20 members such as Japan, the U.S. and China will contribute to the fund.
U.S. markets surged on the headlines, but some of the steam was lost after a CNBC report that the IMF was denying the story.
A message for the IMF to comment was not immediately returned.
The Dow Jones Industrial Average DJIA
+0.38% spiked to 12,257.67 on the report in the final hour of trading and closed up 0.4% at 12,196.37.
marketwatch.com
According to Nikkei, key G-20 members such as Japan, the U.S. and China will contribute to the fund.
U.S. markets surged on the headlines, but some of the steam was lost after a CNBC report that the IMF was denying the story.
A message for the IMF to comment was not immediately returned.
The Dow Jones Industrial Average DJIA
+0.38% spiked to 12,257.67 on the report in the final hour of trading and closed up 0.4% at 12,196.37.
marketwatch.com
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