George Bush, the US president, has signed into law a $700bn rescue plan for troubled financial institutions in an attempt to deal with the global credit crisis.
"We have shown the world that the United States of America will stabilise our financial markets and maintain a leading role in the global economy," Bush said in the White House Rose Garden.
The House had sparked market and political turmoil by rejecting an earlier version of the bailout on Monday by 228 votes to 205.
Congressional leaders had been optimistic the bill would be approved after several senior politicians said they would drop their opposition to it. The bill had been amended by the senate to attract more Republican votes.