S&P 500

US indices slumped overnight as prospect of politicians at loggerheads over the fiscal cliff continued to worry investors.

US stock markets saw a third consecutive day of losses following Barack Obama's victory in the presidential election this week.

The Dow shed more than 300 points in yesterday's session as investors questioned re-elected President Barack Obama's commitment to dealing with the US fiscal cliff.

The inability of US funds to outperform the S&P 500 has been a long-standing concern for fund selectors, but performance figures for the term of Barack Obama's presidency paint a particularly bleak picture.

CONTRARIAN

The US added 171,000 jobs in October, a higher-than-expected figure that suggests the country's economic recovery remains on track.

Wall Street bounced back shortly after open today following a two day lock-down forced by extreme weather conditions in New York City.

Equity trading was suspended in the US today as Hurricane Sandy approached New York City with 70-mile an hour winds and a threat of an 11 foot sea surge.

Investors across Europe and the US are in flight-mode this afternoon, with US markets opening sharply lower as the weak corporate earnings season continues to plague sentiment.

A positive start to the third quarter earnings season has lifted equity prices higher on the major US and European markets.