THE DRAGHI EFFECT: European Central Bank president Mario Draghi vowed to do “whatever it takes to preserve the euro,” after insisting for months that it was up to European governments to restore confidence in the currency shared by 17 nations.
MARKETS SOAR: Draghi’s commitment gave a big boost to global markets. The Dow Jones industrial average jumped 212 points, or 1.7 percent, following big gains in Europe. Stock indexes in Spain and Italy surged 6 percent.
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ZYNGA, FACEBOOK TROUBLES: Zynga, which makes online games like “FarmVille,” posted poor quarterly results and cut its outlook, prompting its stock to fall 37.5 percent. Facebook, which draws a tenth of its revenue from Zynga, also plunged 10 percent in after-hours trading after reporting a loss for its second quarter.
