North American stock markets rebound

TSX spiked 2.4% before settling down

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TORONTO – The Toronto Stock Exchange’s main index was showing a triple-digit gain in early trading Tuesday as markets around the world rebounded from the previous day’s major declines.

The TSX/S&P composite index rose dramatically in the first minutes of trading before settling down slightly.

After 10 minutes of trading, it was up 314.72 points at 13,367.46 — a gain of 2.41 per cent from Monday’s close with all major subindexes advancing.

At the same time, the Dow Jones industrial average was up 2.17 per cent or 345.14 points, the broader S&P 500 index was up 2.19 per cent at 4,159.64 and the Nasdaq 100 was up three per cent or 121.04 points at 4,159.64.

Major markets through Europe were also higher and several in Asia also made gains, but China’s Shanghai market dropped another 7.6 per cent and Japan’s Nikkei 225 dropped nearly four per cent before they closed Tuesday’s trading session.

Canada’ dollar was also stronger Tuesday, rising about one-fifth of a U.S. cent to just under 75.6 cents US.

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