Dow Jones

3.10pm: US markets have shrugged off poor third-quarter GDP results with trading muted early in the session.

US shares plunged at opening ahead of an expected announcement politicians have failed to agree a deal to cut the US' sprawling budget deficit.

Update: European shares fell today - mirroring overnight losses in Asia and the US - on continued concerns about the eurozone debt crisis, with German Chancellor Angela Merkel saying Europe faces its "hardest hour" since World War II.

US and European markets rallied late Friday as Italian policymakers approved new austerity measures, a move which should help pave the way for a new government.

Markets across Europe recovered from early losses on Thursday despite a new warning from the EU Commission that the eurozone may fall into recession next year.

Global markets received a much needed shot in the arm overnight as Italian prime minister Silvio Berlusconi's resignation offer reassured investors an end to the country's problems may be in sight.

US and Asian markets were mixed overnight as fears Italy could become the next victim of the eurozone crisis grew.

US shares moved higher at opening having seen heavy falls Tuesday, as positive jobs data boosted prices.

The Dow Jones shed almost 300 points in yesterday's session with sentiment knocked following Greek plans to hold a referendum on the European bailout plan agreed last week.

The Dow Jones and S&P 500 surged yesterday as market sentiment was lifted by US growth almost doubling in Q3.