US markets posted heavy losses for the second successive day of trading, amid fears Greece is set to default on a €5bn debt payment due next week.
A Greek exit from the single currency would be a "catastrophe", the country's prime minister reiterated over the weekend.
Greece is seeking a two-year extension to its austerity programme from the European Union and IMF as it struggles to find room for another €11.5bn of spending cuts.
Global equity markets are tumbling this morning as the eurozone crisis once again takes centre stage, with Spain's debt costs leaping to a new record high and speculation returning Greece will exit the single currency.
International currency specialist HiFX is warning that the initial reaction of relief to the results of the Greek elections will be short-lived.
Asian markets jumped overnight and European exchanges are expected to open strongly after pro-bailout party New Democracy scraped a narrow win at the Greek election.