* China, US data miss expectations
* Travel shares plummet on UK quarantine movement
* Review for US-China trade plan scheduled for Saturday
* Graph: Global FX Rates in 2020 tmsnrt.rs/2RBWI5E (Updates pricing, changes comment, dateline; previous LONDON)
By Rodrigo Campos
NEW YORK, Aug 14 (Reuters) – Shares dip on Friday as data from China, the eurozone and the United States put a lid on expectations for a continued global rebound, with traders already worried about a delay in the fiscal stimulus of ‘e FS.
European stocks were further offset by a hit for travel stocks after Britain added more European countries, including France, to its quarantine list amid the coronavirus pandemic.
The pan-European STOXX 600 was down 1.20%, although still on course to win for a second straight week.
On Wall Street, a slowdown in retail sales growth last month and concerns about further consumer volatility weighed on equities, with key indices falling, though not far from record highs.
“The economy remains on life support and Congress continuing with recession is bad news for large parts of the economy,” Edward Moya, New York-based senior market analyst at OANDA, wrote in an afternoon note. “Shares will not sell because of the extraordinary policy support that central banks and governments have put in place.”
The Dow Jones Industrial Average fell 53.66 points, or 0.19%, to 27,843.06, the S&P 500 lost 9.69 points, or 0.29%, to 3,363.74 and the Nasdaq Composite fell 58.59 points, or 0.53%, to 10,983.92.
MSCI’s world index rose 0.43%, pushing further from all highs in February. The index has not yet increased by 50% from the March trough despite the pandemic.
The eurozone reported the biggest drop it has ever recorded in employment in the second quarter. Data also confirmed a record decline in gross domestic product last quarter and an expansion in the eurozone’s trade surplus with the rest of the world.
Data showing a slower-than-expected rise in Chinese industrial production and a surprising drop in retail sales put Asian stocks on the defensive.
MSCI’s broadest index of shares in Asia-Pacific outside Japan fell 0.2%, while shares in Japan rose 0.2% and Chinese shares 1.5% in choppy trading.
Yields on U.S. treasuries plummeted but remained higher after a 30-year bond auction on Thursday met a bad demand.
Benchmark 10-year notes last 2/32 in price to give up 0.711%, from 0.716% late on Thursday.
An assessment of U.S.-China trade sales initially slated for Saturday will be delayed due to problems with plans and no new date has been agreed, according to sources familiar with the plans.
Gold is ticking lower and was on course for its steepest weekly fall since March, after a string of nine-week gains.
Spot gold dropped 0.6% to $ 1,940.99 an ounce. Silver, also on course for a weekly loss after a long string of gains, fell 4.92% to $ 26.20.
The dollar index went to an eighth consecutive week of loss, its longest weekly losing streak in a decade. The index fell 0.153%, with the euro rising 0.19% to $ 1.1835.
The Japanese yen strengthened 0.34% versus the greenback at 106.56 per dollar, while Sterling last traded at $ 1.3087, up 0.18% on the day.
Oil continued to fall below $ 45 a barrel, up some of this week’s gains, amid doubts over demand recovery due to the COVID-19 pandemic and growing supply.
U.S. crude recently fell 0.28% to $ 42.12 per barrel and Brent was down $ 44.86, down 0.22% on the day.
Report by Rodrigo Campos; Additional reports by Alex Lawler and Tom Arnold in London, Ambar Warrick and Medha Singh in Bengaluru and Karen Brettell and Gertrude Chavez-Dreyfuss in New York; Edited by Dan Grebler and Will Dunham
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