(Adds byline; changes dateline; previous LONDON)
* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh
By Herbert Lash
NEW YORK, March 30 (Reuters) - The dollar rose and a gauge
of global equity markets slipped on Tuesday as rising U.S.
Treasury yields dampened the appeal of the U.S. tech sector and
led investors on both sides of the Atlantic to shares that stand
to benefit as economies re-open.
The stronger dollar and rising yields, along with
expectations of a strong economic recovery, sapped demand for
safe-haven bullion and pushed gold prices lower.
European shares headed toward record highs on hopes of a
vaccine-driven recovery as investors looked past the fallout of
U.S. hedge fund Archegos' default, which slammed banking stocks
on Monday.
The STOXX 600 index .STOXX gained 0.7%, putting the
pan-European index less than 1% from its pre-pandemic peak,
while bank and mining stocks pushed the blue-chip FTSE 100 index
.FTSE in London to close up 0.5%.
Apple Inc AAPL.O , Microsoft Corp MSFT.O and Amazon.com
Inc AMZN.O led the S&P lower, while JPMorgan & Co. JPM.N and
Bank of America BAC.N were the benchmark's top advancing
stocks.
The major U.S. stocks indexes fell, but advancing shares
outnumbered declining issues, a sign of the impact the big tech
stocks have both on Wall Street and MSCI's benchmark for global
equity markets.
The MSCI all-country world index .MIWD00000PUS fell 0.19%
to 671.58, while its index for emerging markets stocks .MSCIEF
rose 0.69%.
The Dow Jones Industrial Average .DJI fell 0.44%. The S&P
500 .SPX lost 0.45% and the Nasdaq Composite .IXIC dropped
0.29%.
Bets on a speedy economic recovery driven by the vaccine
rollout and unprecedented stimulus lifted the S&P 500 and the
Dow to notch record closing highs last week.
The dollar climbed to a one-year high against the yen and
rose against major currencies on the increasing distribution of
U.S. vaccines and President Joe Biden's plans to spend up to $4
trillion on infrastructure. Biden is expected on Wednesday in Pittsburgh to announce his
plan, details of which spurred yields higher on concerns the
spending could push up the government deficit, said Gennadiy
Goldberg, senior U.S. rates strategist at TD Securities.
"That, I think, is weighing on markets," Goldberg said,
adding that investors have yet to fully size up the possibility
of a multi-trillion-dollar package. "There's more upward
pressure on rates to come."
The 10-year U.S. Treasury US10YT=RR note rose 1 basis
point to yield 1.7331%.
The dollar index =USD rose 0.425%, with the euro EUR=
down 0.39% to $1.1716. The Japanese yen JPY= weakened 0.45%
versus the greenback at 110.28 per dollar.
The rally in European shares to near record highs and signs
of a pick-up in inflation in big euro zone economies weighed on
euro area bonds, pushing 10-year yields up 4 to 5 basis points
across the board.
Spot gold prices XAU= fell 1.61% to $1,684.39 an ounce.
Oil prices slid as the Suez Canal reopened to traffic, while
focus turned to an OPEC+ meeting this week that analysts expect
will approve an extension to supply curbs amid disappointing
demand prospects.
Brent crude futures LCOc1 fell $1.01 to $63.97 a barrel.
U.S. crude futures CLc1 slid $1.21 to $60.35 a barrel.
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Emerging markets http://tmsnrt.rs/2ihRugV
Global asset performance http://tmsnrt.rs/2yaDPgn
Global asset performance https://tmsnrt.rs/3cAPkVi
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