Updated from 4:09 p.m. EDTStocks in the U.S. followed the worst week in their history with an extraordinary rally Monday, as governments worldwide initiated massive emergency aid packages for struggling banks. The global efforts resulted in an all-day rally in the three major indices, each of which climbed more than 11%. The Dow Jones Industrial Average soared 936.42 points, or 11.1%, to 9387.61. The S&P 500 jumped 104.13 points, or 11.6%, to 1003.35. The Nasdaq rocketed by 194.74 points, or 11.8%, at 1844.25. The massive single-day gain in the Dow marks its largest ever in terms of a closing-point rally and its fifth largest one-day gain on a percentage basis. The record run came just 11 trading days after the index registered its largest single-day point decline, a 777-point loss on Sept. 29. The rally breaks an eight-day losing streak for the Dow, but the index remains down 13.5% for the month and 29% year to date. During the previous week, the three major indices took a severe lashing as investors worried that stagnant credit markets weren't responding to curative efforts by the U.S. and other governments. The Dow and the S&P each dropped 18%, and the Nasdaq fell 15%. Over the weekend, central banks across the globe were initiating policies to offer liquidity to banks and bolster lending markets. In the U.S., Interim Assistant Secretary for Financial Stability Neel Kashkari said Monday that the Treasury Department had enlisted law firm Simpson Thatcher to advise it on a plan to buy equity positions as a measure in its $700 billion relief package for financial firms.