Wall Street stocks have slumped for the third straight session as data showed a weakening eurozone economy and US tax rules to fight inversions hit pharmaceutical stocks.
US stocks have finished decisively lower, retreating from last week's records in a decline attributed to profit taking and anxiety about Chinese economic growth.
US stocks have faced big hurdles during the week, but emerged stronger following a favourable Federal Reserve decision, a rejection of Scottish independence and a record stock offering from Chinese company Alibaba.
The Dow and S&P 500 have bolted to fresh records on continued momentum from Wednesday's Federal Reserve decision and enthusiasm ahead of Alibaba's expected initial public offering Friday.
The Australian share market has closed marginally higher as a slightly positive performance from most of the major banks outweighed weakness in the resources sector.
Junior producer AWE has claimed a new gas discovery in the Mid West could be the largest conventional onshore gas discovery in Western Australia in 50 years.
The Australian stock market is higher after the US Federal Reserve pledge to keep interest rates at close to zero until 2015 boosted investor sentiment.