North American markets mixed

North American markets were mixed Tuesday after rallying earlier in the day.

The S&P/TSX composite index rose 98.19 points to close at 13,339.76. It had been up nearly 400 points earlier in the day. On Monday, the index fell 420 points.

The loonie dropped nearly half a cent against the greenback, falling 0.47 of a U.S. cent to end the day at 74.93 cents U.S.

Read: Find opportunity in today’s volatility

The Dow Jones industrial average closed down 204.91 points at 15,666.44 after rallying 441 points earlier in the session. The index lost 588 points on Monday.

The S&P 500 closed down 25.60 points to 1,867.61 after dropping more than 77 points the day before, while the Nasdaq gave back 19.76 points to 4,506.48 after the previous day’s loss of almost 180 points.

Major markets through Europe were higher and several in Asia also made gains, but China’s Shanghai market dropped another 7.6% and Japan’s Nikkei 225 dropped nearly 4%.

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The Shanghai index dropped to an eight-month low following a series of recent plunges that took it below the 3,000 mark for the first time since December.

On commodity markets, the October crude contract ended the day up $1.07 at US$39.31 a barrel while October natural gas rose 3.9 cents to US$2.695 per thousand cubic feet. December gold was down $15.30 at US$1,138.30 an ounce, while September copper advanced five cents to US$2.31 a pound.

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