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Coronavirus: TSX, Wall Street stage small rebound as markets open

A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016.
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. Andrew Kelly/Reuters

The main U.S. stock indexes opened higher on Tuesday, a day after their biggest drop since the 1987 crash, as efforts to contain the rapidly spreading coronavirus upended parts of the economy and dampened business sentiment.

The Dow Jones Industrial Average rose 298.53 points, or 1.48 per cent, at the open to 20,487.05.

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READ MORE: Coronavirus — Canadians stocks hit a 1-year low, down 9.9%

The S&P 500 opened higher by 39.53 points, or 1.66 per cent, at 2,425.66. The Nasdaq Composite gained 167.41 points, or 2.42 per cent, to 7,072.00 at the opening bell.

In Toronto, the S&P/TSX composite index was up 12.75 points to 12,373.15 at 9:50 a.m. ET.

The Canadian dollar was trading at 70.82 cents US compared to an average of 71.61 cents US on Monday.

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— With files from the Canadian Press