U.S. stocks rallied the most in five years after the Federal Reserve said it will pump $200 billion into the financial system to shore up banks battered by mortgage-related losses.

The S&P 500 added 47.28 points, or 3.7 percent, to 1,320.65, trimming its decline for the year to 10 percent. The Dow Jones Industrial Average surged 416.66, or 3.6 percent, to 12,156.81. The Nasdaq Composite Index increased 86.42, or 4 percent, to 2,255.76. Eleven stocks gained for every one that fell on the New York Stock Exchange.

(Source: Bloomberg)