Markets volatile amid elections uncertainty

World stock markets were volatile Tuesday as the initial shock from election results in Europe faded but skepticism grew over whether Greece could form a government capable of fixing its financial mess.

The Markit Eurozone Composite PMI Final Data shows the Eurozone downturn accelerates. Key Points: Final Eurozone Composite Output Index: 47.9 (Flash 47.3, January 48.6) Final Eurozone Services Business Activity Index: 47.9 (Flash 47.3, January 48.6)

New Democracy won the Greek election. However, party leader Antonis Samaras still needs to form a coalition.  If this seems like Déjà Vu, it's because it is. We were in the same place following the May election. Does the Outcome Matter? This go around, I expect Pasok will reluctantly cave in and form a coalition with New Democracy.  The price might be high, such as demanding the much despised Antonis Samaras to step aside. Regardless, does the outcome matter?

By Sammy Pollack:Late Sunday, election results from Greece showed that the pro-bailout New Democracy party had won the election by a narrow margin. So far, the global markets have responded very well to the news.