Stocks slip, bond yields dip from four-month highs

Mon Oct 17, 2016 4:32pm EDT
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By Dion Rabouin

NEW YORK (Reuters) - Major stock markets around the world fell on Monday and U.S. and European bond yields slipped from four-month highs amid uncertainty over the health of the global economy.

U.S. stocks fell as declining oil prices pushed energy stocks down and consumer discretionary shares stumbled.

Stocks moved lower after comments from Federal Reserve Vice Chairman Stanley Fischer, who said economic stability could be threatened by low interest rates, but it was "not that simple" for the Fed to raise rates.

European stocks closed lower across the board with the pan-European FTSE Eurofirst 300 .FTEU3 index down 0.69 percent.

A global tracker of emerging market stock indexes .MSCIEF fell 0.26 percent.

"We’ve got a bunch of uncertainty coming up. You have first the election, then you have the OPEC meeting where they are finally going to actually say what they are going to do and at some point here you probably have a 25-basis point increase in the Fed funds rate," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

The Dow Jones industrial average .DJI fell 51.98 points, or 0.29 percent, to 18,086.4, the S&P 500 .SPX lost 6.48 points, or 0.3 percent, to 2,126.5 and the Nasdaq Composite .IXIC dropped 14.34 points, or 0.27 percent, to 5,199.82.

A gauge of equity markets around the globe .MIWD00000PUS was down 0.34 percent.   Continued...

People walk through the lobby of the London Stock Exchange in London, Britain August 25, 2015.  REUTERS/Suzanne Plunkett/File photo