TSX, Wall Street rebound amid hopes of fiscal stimulus by U.S., other governments

Wall Street roared back to life on Tuesday, rebounding from the brink of bear market confirmation as bargain-hunting and hopes of government stimulus calmed investors’ fears surrounding the coronavirus and growing signs of imminent recession.

All three major indexes jumped nearly 5 per cent the day after equities markets suffered their biggest one-day losses since the 2008 financial crisis.

Canada’s main stock index partially rebounded from the worst one-day decline in more than 30 years on the promise of fiscal stimulus by the U.S. and other governments and a lift in oil prices.

The S&P/TSX composite index closed up 443.85 points or 3.1 per cent to 14,958.09 after losing 1,660.78 points on Monday.

The Canadian dollar traded for 72.83 cents U.S. compared with an average of 73.54 cents US on Monday.

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