New York, April 18 (BridgeNews) - The Nasdaq soared 8% and the Dow industrials surged almost 400 points after the Federal Reserve surprised Wall Street with a 50-basis-point interest rate cut. The Nasdaq closed up 156.22, or 8.13% - its fourth biggest percentage gain on record - to 2079.44. The Dow ended up 398.91 - its third biggest point gain on record - or 3.90%, to 10,615.64 and the S&P 500 was up 46.38, or 3.89%, to 1238.19.