President Barack Obama, with Vice-President Joe Biden at his side
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Global markets up after US fiscal cliff deal

2 January 2013 Last updated at 22:33 GMT

Global stock markets have rallied after a short-term deal to stave off the US "fiscal cliff" was reached.

In New York, the Dow Jones closed up 2.4%, while European shares were up about 2% for the day.

Mark Mardell reports from Washington