The government’s plan to buy stakes and to infuse capital into the troubled financial system sent stocks soaring after Wall Street’s worst week in 75 years.

The Standard & Poor’s 500 Index rose 5.6 percent an hour after the opening bell in New York. The Dow Jones Industrial Average rose 5.2 percent, and the Nasdaq Composite Index went up 4.5 percent.

Over the weekend, President Bush tried once again to be reassuring that the global financial crisis will be responded to by world leaders, after finance ministers from the Group of Seven nations devised a plan to use all available resources to stabilizing failing financial institutions by unfreezing credit and money markets, ensuring deposit insurance, and restarting secondary markets for mortgages and other assets.

Last week, Treasury Secretary Henry Paulson evaluated the effects of guaranteeing billions of dollars in bank debts and temporarily insuring all U.S. bank deposits, a move intended to unfreeze bank lending. On Monday, the

interim assistant secretary for financial stability Neel Kashkari spoke before the Institute of International Bankers in Washington D.C., outlining how government plans to use the $700 billion bill signed by Congress 10 days ago.

The measures were announced after the worst losses seen by global markets in 75 years; in total, the S&P 500 and Dow were down more than 18 percent last week.

Stocks also rallied on word that the Bank of England would distribute $63 billion among three of its troubled banks. The Fed also announced it would provide uncapped loans to three central banks in Europe as a means of flushing liquidity into the financial system.