The main U.S. stock indexes opened higher on Tuesday, a day after their biggest drop since the 1987 crash, as efforts to contain the rapidly spreading coronavirus upended parts of the economy and dampened business sentiment.
The Dow Jones Industrial Average rose 298.53 points, or 1.48 per cent, at the open to 20,487.05.
Get weekly money news
READ MORE: Coronavirus — Canadians stocks hit a 1-year low, down 9.9%
The S&P 500 opened higher by 39.53 points, or 1.66 per cent, at 2,425.66. The Nasdaq Composite gained 167.41 points, or 2.42 per cent, to 7,072.00 at the opening bell.
- Central Alberta carbon capture hub on track to be largest in Canada
- Enbridge makes US$2.55B acquisition of pipeline, storage systems in U.S. midwest
- Choose Canada, businesses urge Albertans ahead of ‘risky gamble’ referendum
- Alberta landowners challenge ‘chronic underfunding’ for orphan well cleanup
In Toronto, the S&P/TSX composite index was up 12.75 points to 12,373.15 at 9:50 a.m. ET.
The Canadian dollar was trading at 70.82 cents US compared to an average of 71.61 cents US on Monday.
— With files from the Canadian Press
Comments
Want to discuss? Please read our Commenting Policy first.