DJI-NEW YORK, Nov 1 (Reuters) - U.S. stocks tumbled on Tuesday after investors were blindsided by a surprise call for a Greek referendum on an EU bailout plan, casting doubt on the sustainability of the recent market rally.
The S&P 500 has slid more than 5 percent so far this week in moves reminiscent of the stomach-churning market swings seen over the past two months and after investors thought the worst of the euro zone debt crisis was over.
The Dow Jones industrial average .DJI fell 297.05 points, or 2.48 percent, at 11,657.96. The Standard & Poor's 500 Index .SPX lost 35.02 points, or 2.79 percent, at 1,218.28. The Nasdaq Composite Index .IXIC dropped 77.45 points, or 2.89 percent, at 2,606.96.
NYMEX-NEW YORK, Nov 1 (Reuters) - U.S. crude oil futures fell for the third straight session on Tuesday, after a shock proposal for a Greek referendum cast doubt on whether a European bailout plan could contain the euro zone debt crisis.
Data showing weaker factory activity in China, Britain and the United States added to worries about the global outlook for oil demand.
On the New York Mercantile Exchange, crude for December delivery settled at $92.19 a barrel, falling $1.00, or 1.07 percent, after trading between $89.17 and $92.88.
CBOT-SOYBEAN,Chicago Board of Trade soybean futures closed lower on a strong dollar, weak equities and lower crude oil but losses were pared by late bargain buying.
A shock announcement of a Greek referendum on its bailout was dragging down markets worldwide. This week's bankruptcy filing by futures trading giant MF Global Holdings Ltd led to volatile trading. USDA late on Monday said 87 percent of the U.S. soybean crop had been harvested, up from 80 percent a week ago and above the 79 percent five-year average.
FCPO-KUALA LUMPUR, Nov 1 (Reuters) - Malaysian palm oil futures slipped on Tuesday on concerns over the effectiveness of the euro zone bailout package, although a focus on heavy rains stalling production of the vegetable oil limited losses.
Risk appetite waned after Greece decided to put the country's bailout to a referendum, casting doubt on the euro zone's plan to stem the debt crisis and prevent economic growth from stalling.
Benchmark January palm oil futures FCPOc3 on the Bursa Malaysia Derivatives Exchange settled down 0.5 percent to 2,923 ringgit ($952.738).
REGIONAL EQUITIES-BANGKOK, Nov 1 (Reuters) - Southeast Asian stock markets fell in light volume on Tuesday as renewed worries about Europe's debt crisis prompted investors to cut exposure to riskier assets, with resource shares under selling pressure because of losses in global oil prices.
Late selling sent Indonesian shares .JKSE almost 3 percent lower to the lowest in a week. Singapore .FTSTI plunged 2.3 percent, its biggest fall in a month, while Thailand .SETI, Malaysia .KLSE and Vietnam .VNI lost at least 1 percent.
Singapore's Keppel Corp Ltd KPLM.SI, the world's largest rig builder, plunged 5.2 percent and Thai petrochemical firm PTT Global Chemical Pcl PTTGC.BK fell 1.9 percent.
Malaysia saw outflows of $9.5 million after $315 million in foreign inflows since last week while Indonesia had $6.7 million in outflows after $0.2 million on Monday and $253 million in inflows last week, Thomson Reuters and stock exchange data showed.
