BUSINESS

Dow Jones, TSX Soar At Open As 'Black Monday' Fears Recede

08/25/2015 10:59 EDT | Updated 08/25/2016 05:59 EDT

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 tumult, which the media had dubbed "Black Monday."

After 30 minutes of trading, the TSX/S&P composite index was up 309.91 points at 13,362.05 — up nearly 2.4 per cent from Monday's close.

The Dow Jones industrial average was up 2.1 per cent or 327.37 points, the broader S&P 500 index was up nearly 2.3 per cent or 42.83 points at 1,936.04 and the Nasdaq 100 was up about 3.2 per cent or 128.53 points at 4,167.13 points.

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 it closed Tuesday's trading session.

Canada's dollar wavered between gains and losses, at one point down one-hundredth of a U.S. cent at 75.4 cents U.S.

The October crude contract was up 92 cents at US$39.16 a barrel and October natural gas contracts were up two cents at US$2.67.

The December gold contract was down $16 at US$1,137.60.