Dhaka, Bangladesh (BBN) – US Market was on a decline towards the end of last week amidst the European debt crisis.

Resignation from ECB’s senior official and rumors regarding Greece’s default resulted into 2.7 percent drop in Dow Jones and 2.4 percent drop in Nasdaq on Friday, a weekly review report said.

U.S. stocks staged a late-day rally on Monday, rebounding from a global rout, after news that China might bolster Italy with financial support tempered fears of a Greek debt default and contagion.

Stocks gained on Tuesday as investors bought shares beaten down in recent weeks and bet European leaders would take action soon to ease the Greek debt crisis.

A promise by European leaders to help Greece avoid default sent stocks sharply higher Wednesday for the third straight day. The Dow Jones industrial average rose 140.88 points or 1.3 percent while the Nasdaq composite added 40.40 points or 1.6 percent.

BBN/SSR/AD-17Sept11-11:25 pm (BST)