The Dow soared on Tuesday to its biggest one-day percentage gain since 1933, after U.S. lawmakers said they were close to a deal for an economic rescue package in response to the coronavirus outbreak, injecting optimism following the biggest selloff since the financial crisis.
All three main U.S. stock indexes rebounded strongly from Monday’s brutal selloff as the coronavirus outbreak forced entire nations to shut down.
The S&P/TSX composite index closed up 1,342.59 points or almost 12 per cent at 12,571.08. The Canadian dollar traded for 69.01 cents US compared with an average of 69.05 cents US on Monday.
The May crude contract was up 65 cents at US$24.01 per barrel and the May natural gas contract was up 5.6 cents at US$1.73 mmBTU.