TORONTO — Canada’s main stock index rallied and U.S. markets moved further into record territory, as oil plunged after Iran’s foreign minister said the Strait of Hormuz is fully open.
“Without that opening, there were concerns about inflation, there were concerns about growth, there were concerns about the price of oil, but those have overseeded, at least for now with the opening of the strait and the ability to move commercial shipping through the strait,” said Anish Chopra, managing director with Portfolio Management Corp.
The S&P/TSX composite index was up 294.06 points at 34,346.29.
In New York, the Dow Jones industrial average was up 868.71 points at 49,447.43.
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