Everton twice came from behind to share the points in a brutal and bruising encounter.
The result was due in part to referee Rob Styles who seemed determined to grab the limelight by handing out 10 yellow and two red cards, as well as awarding three penalties.
His interference didn't help the quality of football on show and the game descended into a pitch battle with brief pauses for the constant free kicks.
Everton dominated most of the first half but had nothing to show in return apart from an injury to England star Wayne Rooney.
Newcastle lost Laurent Robert in the 41st minute for a second yellow card but the Toffees failed to capitalise on their numerical advantage.
Thirteen minutes into the second period they went behind and lost Gary Naysmith when the Scotland international fouled Kieron Dyer in the 18-yard box.
Shearer tucked away the penalty and fight truly began.
Steve Watson was sacrificed for Duncan Ferguson and the Toffees piled on the pressure. It paid off after 67 minutes when Tomasz Radzinski turned and shot in the box earning the equaliser.
But Styles still had a part to play in the game. Joseph Yobo conceded a second penalty when he was adjudged to have fouled Olivier Bernard, and Shearer repeated his earlier heroics with just eight minutes left.
Newcastle thought they had the three points in the bag but again the official was on hand to prove them wrong.
A foul on Radzinski gave Ferguson the chance to prove he's as cool in front of goal as his opposing number nine and he duly fired home to level the game.
While the result was fair in the end both sides will feel hard done by.
Everton had an early penalty appeal turned down and Newcastle will claim the home side's penalty was harsh.