US markets surge as China cut rates

China's stock market plummeted again on Tuesday posting losses of
7.6%. But despite another day of heavy losses for the world's second
largest economy- the US markets opened in positive territory with the
major indexes up over 2% in the first 30 minutes of trading.

This comes as the People's Bank of China announced it's cutting
interest rates and reducing its reserve requirement ratio.

William Denselow reports from New York.

IN: "What a difference..."
OUT: SOC
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