Reuters: US Dollar Report: GLOBAL MARKETS-Shares, oil fall on economy, Spain

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GLOBAL MARKETS-Shares, oil fall on economy, Spain Oct 3rd 2012, 14:27 Wed Oct 3, 2012 10:27am EDT * World shares slide as economic outlook darkens * U.S. stocks little changed in volatile trade * Oil fall sharply on worries about economy, demand By Wanfeng Zhou NEW YORK, Oct 3 (Reuters) - Global shares and oil prices fell on Wednesday after weak economic data from Europe and China and on uncertainty about when Spain will request a bailout for its public finances. But better-than-expected news on U.S. services sector activity and private-sector job creation helped Wall Street hold its ground and lifted the dollar to a two-week peak against the yen. The euro zone's economic woes worsened last month and China's slowdown looked likely to extend to a seventh quarter, surveys showed, suggesting recent bold actions by global central banks have yet to convince consumers to start spending again. In the United States, an industry report showed the pace of growth in the vast U.S. services sector picked up in September. Earlier, payrolls processor ADP said 162,000 private jobs were created in September in the United States, topping expectations of 143,000. The data came ahead of the first of .dithree presidential debates Wednesday night in Denver and a key government payrolls report on Friday. "It indicates a little bit of growth. This is good information ahead of the monthly employment report. It looks more like things are heading in the right direction. It is this new reality -- we don't have robust growth, we just have very moderate growth," said William Larkin, fixed income portfolio manager at Cabot Money Management in Salem, Massachusetts. The MSCI global stock index slipped 0.3 percent to 332.51. The FTSEurofirst-300 index of pan-European shares fell 0.2 percent to 1,099.84 points, The Dow Jones industrial average dropped 19.51 points, or 0.14 percent, to 13,462.85. The Standard & Poor's 500 Index dropped 1.16 points, or 0.08 percent, to 1,444.59. The Nasdaq Composite Index dropped 0.68 points, or 0.02 percent, to 3,119.36. The dollar rose as high 78.53 yen, its highest since Sept. 19. It was last at 78.49 yen, up 0.5 percent on the day. The euro lost 0.2 percent to $1.2902. Oil prices fell sharply on concerns about the global economy and crude demand. Brent November crude futures lost $.320 $108.37 a barrel. U.S. November crude shed $2.48 to $89.41 a barrel€. Link this Share this Digg this Email Reprints

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