U.S. stocks ended sharply higher on Tuesday as investors jumped back into the market a day after a dramatic selloff, with a powerful bounceback in Japanese equities helping to restore calm on Wall Street.
The S&P/TSX Composite Index still ended lower as investors caught up to the global stock market rout on Monday, when the Canadian market was closed. But the index finished well above its weakest level of the day.
The S&P 500 climbed 1 per cent to break a brutal three-day losing streak. It had tumbled a bit more than 6 per cent on a raft of concerns, including worries the Federal Reserve had pressed the brakes too hard for too long on the U.S. economy through high interest rates in order to beat inflation.
The Dow Jones Industrial Average rose 294 points, or 0.8 per cent, while the Nasdaq composite gained 1 per cent. Stocks of all kinds climbed in a mirror opposite of the day before, from smaller companies that need U.S. households to…
