  It is shown that with increasing magnitude of current (I), resistivity of
Sm0.6Sr0.4MnO3 transforms from a smooth to a discontinuous insulator-metal
transition which is also accompanied by an abrupt decrease in temperature of
the sample. We report colossal low-field magnetoresistance under a high current
bias (-99% at H = 0.5 T and 70 K) and electroresistance (-8000 % at H = 0 T and
60 K) for I = 11 mA. We interpret our observations in terms of current induced
supercooling of the high temperature paramagnetic phase and enlargement of
volume fraction of the ferromagnetic phase under a magnetic field.
