Wall Street declined amid concern that problems in Europe and China will impact American corporate earnings.

New Zealand shares fall, pacing a regional selloff in equities as investors fret Greece will leave the eurozone.

Better-than-expected data on the US housing market helped firm optimism about the outlook for the American economy, and helped equities extend their rebound from recent losses.

Wall Street struggles after Greece calls for new elections, despite American data providing good news on the US economy, and the euro hitting a four-month low against the greenback.

The prospects for a new Greek government are looking up, as is the latest US jobs data, helping stocks on both sides of the Atlantic advance. 

Downside risks in Europe and an unexpected slowing in the US services sector has investors rethinking the outlook for a second day.