The agency said France's long-term economic growth outlook was affected by multiple structural challenges and its fiscal outlook was uncertain as a result of its deteriorating economic prospects.
On the economic front, the Commerce Department said the U.S. privately-owned housing starts in October were at a seasonally adjusted annual rate of 894,000, a 3.6-percent increase over September.
The data, combining with earlier reports on the housing market, signaled the most-battered sector was gradually bottoming out.
Among stocks in focus, Hewlett-Packard slumped nearly 12 percent after the company's results fell short of Wall Street expectations, including a huge accounting charge relating to allegations of fraud.
In other markets, the U.S. dollar strengthened against most major currencies on Tuesday as euro-zone financial ministers met to discuss Greece's bailout.
Crude prices Tuesday tumbled as a Hamas official said a Gaza cease-fire had been agreed with Israel, which eased markets' previous concerns about oil supplies in the Middle East.
Light, sweet crude for January delivery lost 2.53 dollars, or 2. 83 percent to settle at 86.75 dollars a barrel on the New York Mercantile Exchange.
Landmark building should respect the public's feeling
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