Greek Prime Minister George Papandreou's decision to call a vote on the bailout package sent shock waves across Europe. Italy's main stock index dropped 6.8 percent, France's fell 5.4 percent and Germany's fell 5 percent.
On the economic calendar, the U.S. manufacturing sector barely expanded last month, according to the Institute of Supply Management. Spending on construction in the U.S. inched ahead in September, meeting economists' expectations. But the sector continues to struggle with weak demand for new projects.
U.S. auto sales surge in October. Chrysler lead with 27% sales growth, Ford increased by 6.2%, and GM's sales climb 1.7%.
In corporate news, Pfizer’s earnings results beat expectations. The company also lifted its forecasts. PFE up $0.07 to 19.33. Baker Hughes lost 7.6% to 53.54. The third-quarter earnings rose sharply, but missed Wall Street’s expectations.