(Updates prices, changes comment, dateline; previous LONDON)
* U.S. labor market slowing as fiscal stimulus fades
* Oil dips as frail demand outlook offsets U.S. stock fall
* COVID-19 Global Tracker: By Rodrigo CamposNEW YORK, Sept 24 (Reuters) - An index of stocks across theglobe fell on Thursday and the dollar rose for a fifth sessionrunning on lingering concern about another economic hit from thecoronavirus pandemic.Data showed a surprise increase in the number of Americansfiling new claims for unemployment benefits, reinforcing theview that the economic recovery is in peril. Adding to those concerns, the Federal Reserve this week hastalked up the importance of a fiscal stimulus in the UnitedStates. But political focus has shifted toward the Nov. 3presidential election and a Supreme Court nomination, which makeit harder for Congress to agree on a stimulus package."The cloud of uncertainties continues to grow," said PeterCardillo, chief market economist at Spartan Capital Securitiesin New York."The coronavirus is now back on the front pages and themarket is now really fearing the uncertainties of the elections.As we get closer to the end of the month, the downward trend isintensifying."The Dow Jones Industrial Average fell 70.55 points,or 0.26%, to 26,692.58, the S&P 500 lost 1.7 points, or0.05%, to 3,235.22 and the Nasdaq Composite added 23.91points, or 0.22%, to 10,656.90.The pan-European STOXX 600 index lost 1.15% andMSCI's gauge of stocks across the globe shed0.68%.Emerging market stocks lost 1.91%. MSCI's broadest index ofAsia-Pacific shares outside Japan closed 2.19%lower, while Japan's Nikkei lost 1.11%.Flows into the dollar helped it rise for a fifthstraight day against a basket of peers as investors seek safety.
"Optimism on the recovery, optimism on the virus, and betson stimulus were keeping markets well bid, and on all three ofthese issues there has been a degree of disappointment thismonth," said John Velis, an FX and macro strategist at BNYMellon.The dollar index rose 0.179%, with the euro down 0.13% at $1.1644.
The Japanese yen weakened 0.08% versus the greenback at105.47 per dollar, while Sterling was last trading at$1.2716, down 0.05% on the day.Oil prices ticked lower, tracking post-settle trading theprevious session, as the bullish impact of a fall in U.S.inventories was offset by a stronger dollar and a renewed waveof coronavirus cases in Europe.U.S. crude recently fell 0.25% to $39.83 per barreland Brent was at $41.57, down 0.48% on the day.U.S. Treasury yields fell on Thursday as labor market dataindicated the economic recovery may be stalling, but moved offlows after a stronger-than-expected report on the housingsector.Benchmark 10-year notes last rose 4/32 in priceto yield 0.6642%, from 0.676% late on Wednesday.In emerging markets, Turkey surprised traders with a hike inits policy rate by 200 basis points to 10.25%, sending the liraand bonds higher. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^Global assets Global currencies vs. dollar Emerging markets COVID-19 Global Tracker ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Rodrigo Campos; additional reporting by SagarikaJaisinghani and Devik Jain in Bengaluru, Ahmad Ghaddar in Londonand Sin?(C)ad Carew and Chuck Mikolajczak in New York; editing byJonathan Oatis)
219-1131; Reuters Messaging:rodrigo.campos.thomsonreuters.com@reuters.net)) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.