News by: Himanshu Singh
And global stock markets tumbled as Greece called for a snap election reigniting threat to the global financial stability.
A rally among energy and technology shares offset concerns about global weakness and political turmoil.
And falling oil prices and rising dollar hammered the emerging market currencies to the record low.
The S&P 500 posted its biggest daily percentage drop since 22 October as concerns about global growth added to the bearish tone.
Japanese equities rose today even as the economy shrank an annualised 1.9% in the third quarter.
And the Bank of England said mortgage borrowers could handle rate rise, marking a significant shift in its stance.
And Energy secretary Ed Davey says action to tackle climate change could make fossil fuel companies the "sub-prime assets of the future".
And the euro crashed to its lowest level against the US dollar for more than two years last night.
And the ECB paralysed by split as irreversible deflation trap draws closer with Draghi clearly lacking the crucial German support for launching full-blown QE.
The S&P 500 fell as much as 0.6% before rebounding and briefly turned positive.
Both the Dow Jones and S&P 500 ticked to intraday records in a quiet session ahead of a key meeting of the ECB.
Ed Balls brushed aside the chancellor’s eye-catching tax cuts for home buyers and got straight to the heart of the problems facing his rival.
And Aviva has agreed to take over Friends Life in a £5.6 billion deal that will create the UK’s biggest insurer.
Exxon Mobil and Chevron were among the largest gainers on both the Dow and the S&P, up about 2% each.
And BG Group cuts chief executive Helge Lund’s £25 million ‘golden hello’ following the shareholder opposition for breaching oil and gas group’s remuneration policy.
Industrials were the biggest decliners, pressured by manufacturing data that still pointed to sluggish demand.
And French cable and telecommunications group Altice agreed on €7.4 billion Brazilian deal for Portugal Telecom unit, Oi.
However, Japan's Nikkei share average rose to a fresh seven-year high as strong corporate spending lifted sentiment.