European stock markets pushed higher Thursday, as the European Central Bank joined policymakers around the world in attempting to shore up the financial markets, unveiling its biggest anti-crisis program yet.
The European Central Bank launched a 750 billion euro ($820 billion) emergency bond purchase scheme after an unscheduled meeting Wednesday. It will buy government and company debt across the eurozone, including that of troubled Greece and Italy. Sovereign bond spreads, which had widened sharply in recent days, came in sharply in response.
This announcement came after the bank's 25-member governing council held emergency talks by phone late into Wednesday evening.