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S&P/TSX composite closes up 400 points in broad-based rally

Canada’s main stock index climbed Friday on a broad-based rally, bringing an end to what had been a six-day losing streak.

The S&P/TSX composite index closed up 400.14 points at 20,099.19.

In New York, the Dow Jones industrial average was up 466.36 points at 32,196.66. The S&P 500 index was up 93.81 points at 4,023.89, while the Nasdaq composite was up 434.04 points at 11,805.00.

The rally — which came after consecutive sessions of losses as investors worried about inflation, central bank rate hikes and overall economic uncertainty — lifted all industry sectors.

“Those beaten down tech stocks are definitely having a stronger day, but it’s across the board,” said Crystal Maloney, head of equity research at CIBC Asset Management. “All sectors are in the green, whether you’re looking at the TSX Composite or the S&P 500.”

Tech stocks in particular have been hard-hit recently. North American investors have…

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