At the open: TSX, Dow bloodied as global selloff intensifies
theglobeandmail.com | Published Monday, August, 24th
The S&P/TSX composite index fell more than 700 points at the open, and the Dow Jones industrial average was off more than 1,000 points, before clawing back some of those losses.
At 1010 a.m. (ET), the TSX was down 362 points, or 2.6 per cent, at 13,110; the S&P 500 index was down 60 points, or 3 per cent, at 1,910; the Dow Jones industrial average was down 475 points, or 2.8 per cent, at 15,984; and the Nasdaq was down 153 points, or 3.2 per cent, at 4,552.
The selloff followed a more than 8-per-cent drop in Chinese shares and a selloff in oil and other commodities.
The Dow has never lost more than 800 points in a day.
Futures on the Nasdaq, S&P and Dow indexes were halted briefly before the market opened after hitting a circuit breaker, a step taken by exchanges to reduce volatility and give investors time to assess information… read more>