North American markets rebound after Monday plunge

Huge losses continue overseas

North American markets edged up in early trading Tuesday after record sell-offs a day earlier saw trillions of dollars in value wiped out from global stocks. The Dow Jones Industrial Average, the NASDAQ, the S&P 500 and the TSX Composite were all up between 1 and 3 per cent by 11 a.m. (ET). But overseas markets continued to slide. Stock markets in Japan, Australian, Hong Kong and South Korea all dropped between 4.5 and 8.5 per cent Tuesday. Some of those losses were clawed back in later trading. The drops come amid twin financial crises in the United States and Europe as well as news out of China on Monday that inflation climbed in July to a three-month high.

Globe and Mail


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