European shares slipped and the euro touched a 23-month low on Wednesday as investors worried that Spain's banking problems would push its borrowing costs to unsustainable levels, while worries over Italy's borrowing costs also rattled investors.

Charts show the blue-chip Euro STOXX 50 .STOXX50E index's 50-day moving average crossing below the 200-day moving average in early trading on Wednesday, a strongly bearish technical signal called 'death cross', which usually means further losses in the index six months down the road.

Facebook (FB.O) has received notice that U.S. antitrust regulators will give its proposed purchase of the popular photo-sharing app maker Instagram a lengthy investigation, an industry source told Reuters on Tuesday.

Smartphone maker HTC (2498.TW) said on Wednesday its latest smartphones have passed a U.S. customs review, clearing the way for it to ramp up sales in the United States as it looks to turn around a decline in what was once its largest market.

Research In Motion Ltd (RIM.TO) (RIMM.O) has hired bankers for a far-reaching strategic review and to look for partnerships as the BlackBerry-maker warned it would likely report a shock fiscal first-quarter operating loss.

Stanley Black & Decker Inc (SWK.N) is among potential bidders for private equity-owned Infastech, a Singapore-based industrial fastener maker with revenues of more than $500 million, sources with direct knowledge of the matter said.

Apple Inc (AAPL.O) Chief Executive Tim Cook said technology for televisions was of "intense interest" but stressed the company's efforts would unfold gradually amid speculation the iPad and iPhone maker was on the brink of unveiling a revolutionary iTV. [ID:nL1E8GU081]

On the macro front, investors awaited pending home sales for April. Economists in a Reuters survey expect a 0.1 percent rise compared with a 4.1 percent rise in the previous month.

U.S. stocks rose on Tuesday as signs Greece would stay in the euro zone were enough to spark buying in what has been a weak month for equities, while Facebook plumbed new lows on high volume.

The Dow Jones industrial average .DJI rose 125.86 points, or 1.01 percent, to 12,580.69. The S&P 500 Index .SPX added 14.60 points, or 1.11 percent, to 1,332.42. The Nasdaq Composite .IXIC gained 33.46 points, or 1.18 percent, to 2,870.99.

(Reporting by Blaise Robinson; Editing by Susan Fenton)

• A Permanent Economic Emergency