Wall Street has rebounded from its worst week on record.
The Dow Jones industrial average soared 936.42 points, or 11.08%, to end unofficially at 9,387.61.
Standard & Poor's 500 Index jumped 104.06 points, or 11.57%, to finish unofficially at 1,003.31. The Nasdaq Composite Index surged 194.74 points, or 11.81%, to close unofficially at 1,844.25.
Markets in Latin America also gained.
The Bovespa index on Brazil's stockmarket rose 14.66% to 40,829 points, erasing most of the losses suffered last week when it fell 20%.
The BMV stock index in Mexico was up 11% at 22,095.89 points. Chile's IPSA rose 13.01%.
Markets in Argentina and Colombia were closed for the Columbus Day holiday.
European markets
European shares also soared on Monday in reaction to government and central bank moves to revive credit markets and bail out banks.
The FTSEurofirst 300 index of top European shares closed 10.1% higher at 937.41 points - more than wiping out a slide of 7.6% on Friday.
Financial shares led the surge: Credit Suisse gained 28%, ING Group rose 20% and Allianz was 14% up.
In Paris, the CAC 40 rose 11.18% to 3,531.50. In Frankfurt, the Dax soared 11.40% to 5,062.45.
There were gains of 11.39% on the Swiss Market Index, 11.49% in Milan and 10.65% in Madrid.
However, Russia's two stock exchanges closed down more than % in Moscow.
In Britain, the FTSE 100 index rose 8.26% to close at 4,256.90.
In a sign that credit markets may be loosening, the cost for banks to borrow dollars, sterling and euros from each other over three months fell.