Wall Street's Dow Jones and S&P 500 benchmarks had slumped 4.6 percent and 4.1 percent on Monday, their biggest drops since August 2011
European shares edged up too though they were in the red for the week as the pressure of more euro strength
Wall Street last week posted its best start to a year in more than a decade
Asian stocks struck a range of new peaks: a record high for Philippine stocks
MSCI's global share index rose 0.2 percent to 433.59 points, its highest since June 2015
Oil and commodities firms gained the most as oil and metal prices rose
Last month the curve traded as low as 73 basis points, the flattest since 2007
The dollar's weakness gave gold a leg up, with the precious metal gaining 0.9% to $1,352.26 an ounce
Wall Street looked set to open flat to higher on Wednesday with futures on the Dow Jones, S&P and Nasdaq up around 0.1 per cent
Tuesday's surprise interest rate cut in Australia and downgraded growth and inflation forecasts from the European Commission also weighed
Japan's Nikkei sank 3.5% in its steepest daily fall since mid-February, dragging down shares across Asia