US stocks fell on Wednesday as Greek debt woes, US data and disappointing profit forecasts fueled bearish sentiment.
The cost of Greek debt has risen sharply on fears that Greece may have to write off large amounts of its debt to other countries and banks.
The Dow Jones industrial average closed down 178.84 points (1.48%) at 11,897.27.
The Nasdaq Composite Index finished down 47.26 points (1.76%) at 2,631.46.
Banks led a minor retreat on Britain's FTSE 100, hurt by uncertainty over the UK government's push for tighter regulation and Europe's debt crises.
The FTSE 100 fell more than 1%, Germany's DAX fell 1.25%, and France's CAC40 fell almost 1.5%.
The Australian 200 Index fell 18 points (0.4%) to close at 4567 on Wednesday.
The NZX 50 rose 18 points (0.5%) to finish the day at 3506.