US: Stocks jump, adding to global rally

[NEW YORK] US equities jumped in opening trade Tuesday, adding to a global rally following strong gains in the volatile Chinese stock market.

Five minutes into trade, the Dow Jones Industrial Average was at 16,376.90, up 274.52 points (1.70 per cent).

The broad-based S&P 500 gained 32.17 (1.67 per cent) at 1,953.39, while the tech-rich Nasdaq Composite Index advanced 90.65 (1.94 per cent) to 4,774.57.

Most equity markets in Europe and Asia posted big gains following the 2.92 per cent rise in the benchmark Shanghai Composite Index in China.

Stocks have been volatile the last couple of weeks due to worries about the slowing Chinese economy and the possibility that the US Federal Reserve will soon raise interest rates.

AFP