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a coordinated global effort to mad off a panic over european debt sent stock markets roaring around the world today. the dow closed with its biggest ga deralin nearly three years. it started when the federal reserve bank in washington and central banks in europe and japan all worked together to upe borrowing easier. the dow was up just over 490 points today. it's been quite a week already. in the last three days, the dow is up 7.25%. back in the black. on e r senior business errrespondent anthony mason is nd the floor of the new york stock exchange. anthony. >> reporter: the dow is o...

nearly nine years of war. this morning, at camp victory in baghdad the u.s. is handing over control and pausing to remember all of the troops who have died in the fighting. >> in 2003 as u.s. troops invaded iraq national correspondent jim axelrod was the first western reporter to get to baghdad airport. he is back in baghdad this morning with the latest. jim, good morning. >> reporter: well, good morning. what we are seeing here in bad t baghdad is the beginning of the long good-bye. 13,000 american troops still in iraq and they will begin reducing the number to zero by the end of de...

banks. in the fed's words, "to sees strains in financial markets." but that won't solve europe's long-term debt problems, says david lot. >> you know what, anthony, it solved the immediate problem and the immediate problem was make sure we didn't have a failure of a major financial institution that could have caused lehman brother's type impacts. >> reporter: the markets like the key numbers on jobs, housing, and manufacturing, all coming in stronger than expected. more fuel for the near-500-point rally. the next mile marker for the markets will be the unemployment number that of whi...

allegations of an alleged 13-year affair. adele and bruno mars put snubs for taylor swift and beyonce beyonce. we will all that and more "early" this thursday morning, december 1st, 2011. captioning funded by cbs boy, that's something to wake up to. >> stunning. >> it is. good thursday morning, everyone. i'm erica hill. >> not quite as good as rihanna's song. i'm jeff glor. chris wragge is off this morning. we begin in iraq. one month from today, all u.s. combat troops will be gone after nearly nine years of war. this morning, at camp victory in baghdad the u.s. is handing over...

actually up today, and as you say, the dow is now back in the black for the year. the rally began at the opening bell and never lost momentum. all three major armies were up more than 3% on the day. >> the european move was definitely the spark that lit the fire. >> reporter: the fed's coordinated move today with the central banks of europe, england, japan, canada, and switzerland, cut the cost of borrowing dollars for european banks. in the fed's words, "to sees strains in financial markets." but that won't solve europe's long-term debt problems, says david lot. >> you know what, an...