TSX closes up 226 points in wild day after rate cuts
Wednesday, October 8th, 2008
CBC News
October 8, 2008
Benchmark Toronto index still down 3,200 points since Labour Day
The Toronto stock market broke a five-day losing streak in a wild up-and-down session Wednesday as traders reacted to efforts by central banks to cut interest rates.
The S&P/TSX composite index, which had opened down 309 points, closed up 225.84 points, or 2.3 per cent, at 10,055.39.
The index, which fell below 10,000 on Monday for the first time since 2005, has lost about 3,200 points, or 23 per cent of its value, since Labour Day.
The day did not end happily in New York, where the Dow Jones industrial average closed down 189.01 points, or two per cent, at 9.258.10. It had been up more than 145 points mid-afternoon.
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