Stock markets surge as bargain hunters move in ahead of Fed rate decision

Stock markets surge as bargain hunters move in ahead of Fed rate decision Malcolm Morrison, THE CANADIAN PRESS TORONTO - North American stock markets chalked up huge rallies late in the afternoon Tuesday, resulting in one of the biggest one-day gains ever for the Dow Jones industrial average and a big bounce in Toronto Toronto's S&P/TSX composite index rose 614.29 points or 7.2 per cent to close at 9,151.63. That mended a good chunk of the 757-point hole dug in Toronto on Monday, when growing worries about the length and depth of a global recession pushed down Canada's main index by eight per cent. In New York, the Dow gained 889.35 points on Tuesday to rise almost 11 per cent to 9,065.12 - the second-biggest percentage gain on record for the world's most-watched stock-market indicator. Tuesday's rallies follow a series of... [read full story]