The Organization of Economic Cooperation and Development in Paris forecast a 0.1 percent economic contraction in Europe for 2012 and growth of 0.9 percent for 2013, dropping previous predictions of 0.2 percent growth this year and 1.4 percent for 2013.
By close of trading in New York, the blue chip Dow Jones industrial average shed 1.67 points, 0.01 percent, to 12,502.81.
The tech-heavy Nasdaq composite index gave up 8.13 points, 0.29 percent, to 2,839.08.
The Standard and Poor's 500 added 0.64 points, 0.64 percent, to 1,316.63.
On the New York Stock Exchange, 1,579 stocks advanced and 1,482 declined on a volume of 3.9 billion shares traded.
The benchmark 10-year treasury note rose 1/32 to yield 1.769 percent.
The euro fell to $1.2667 from Monday's $1.2818. Against the yen, the dollar rose to 79.98 yen from Monday's 79.31 yen.
In Tokyo, the Nikkei 225 index added 1.1 percent, 95.40, to 8,729.29.
In London, the FTSE 100 index added 1.86 percent, 98.80, to 5,403.28.
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