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GLOBAL MARKETS-Global stocks slide, bonds up, US dollar jumps

Mon Jun 15, 2009 11:24pm IST
 
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* Global stocks fall on poor U.S, euro zone economic data

* Bond prices gain as stock sell-off revives safety bid

* US dollar climbs after Russia backs reserve currency role

* Oil, gold other commodities fall on dollar's strength (Updates with U.S. markets activity; changes dateline, previous LONDON)

By Herbert Lash

NEW YORK, June 15 (Reuters) - Global stocks fell sharply on Monday after weak U.S. manufacturing data and record job losses in Europe raised concerns about the world's economic health while boosting the safe-haven appeal of U.S. and euro zone debt.

The U.S. dollar gained broadly after Russia expressed confidence in the greenback as the world's reserve currency, and the euro extended losses after the European Central Bank said euro zone banks face another $283 billion in write-downs.

Crude oil fell more than 3.0 percent to below $70 a barrel in a further retreat from a near eight-month high. Nickel, zinc and lead prices tumbled more than 6.0 percent, while copper also slid after the manufacturing data signaled demand remains weak.

Gold slipped towards $930 an ounce, pressured by the firmer dollar while easing crude prices dampened bullion's appeal as a hedge against the potential of oil-induced inflation.  Continued...

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