Stocks on Wall St fell on Monday after Germany dampened enthusiasm that an upcoming summit would result in a breakthrough in Europe's debt crisis.
The Dow Jones index was down 199 points, or 1.7% , to 11,448. The Nasdaq Composite was down 48 points, or 1.8%, to 2620.
In Europe: the FTSE 100 in London was down 0.5%, the CAC-40 in Paris was down 1.6% and the DAX in Frankfurt was down 1.8%.
The Nikkei index in Tokyo was up 132 points to 8880.
The Australian 200 Index was up 70 points, or 1.7%, to 4275. The NZX 50 rose 14 points, or 0.4%, to close at 3317.
At 8.20am on Tuesday, the New Zealand dollar was trading at 79.38 US cents, 77.80 Australian cents, 50.37 pence, 60.95 yen and 0.5037 euro. The Trade Weighted Index was at 69.61.
Brent crude oil was trading at $US112.91 per barrel and gold was trading at $US1673.14 per ounce.