GLOBAL MARKETS-Stocks drop as economic worries weigh, sterling up slightly

* U.S. stocks fall in afternoon trading
* European stocks end up 0.3%

(Updates with U.S. stocks lower)
By Caroline Valetkevitch
NEW YORK, Dec 9 (Reuters) - Global equity indexes fell on
Wednesday, with the S&P 500 down nearly 1% as negotiations for
further fiscal stimulus dragged on, while sterling inched up
after recent weakness.
Nasdaq was down about 2% and led losses on Wall Street in
afternoon New York trading.
Investors were awaiting news on further U.S. economic relief
as the coronavirus pandemic continued to take its toll on the
economy.
The U.S. House of Representatives was set to vote Wednesday
on a one-week stopgap funding bill that will buy more time to
reach a deal on COVID-19 relief, with separate aid packages of
more than $900 billion on the table. "We had a pretty nice boost in the morning on speculation
that we might get a new package, but it's kind of an on-again
and off-again thing," said Randy Frederick, vice president of
trading and derivatives for Charles Schwab in Austin.
Johnson & Johnson JNJ.N this week said it could obtain
late-stage trial results for a single-dose vaccine in January,
earlier than expected. Britain this week became the first Western nation to begin a
wide vaccination campaign. However, Britain injected a note of
caution, saying people with a history of significant allergic
reactions responded adversely to the Pfizer PFE.N vaccine.
The Dow Jones Industrial Average .DJI fell 146.7 points,
or 0.49%, to 30,027.18, the S&P 500 .SPX lost 33.28 points, or
0.90%, to 3,668.97 and the Nasdaq Composite .IXIC dropped
249.93 points, or 1.99%, to 12,332.85.
The S&P 500 had hit a record high earlier in the session.
The pan-European STOXX 600 index .STOXX rose 0.32% and
MSCI's gauge of stocks across the globe .MIWD00000PUS shed
0.62%, also hitting a record high earlier.
Sterling GBP= was last trading at $1.3364, up 0.08% on the
day.
British Prime Minister Boris Johnson warned the European
Union on Wednesday it must scrap demands that he says are
unacceptable if there is to be a Brexit trade deal to avoid a
turbulent breakup in three weeks.
The dollar index =USD rose 0.278%. U.S. Treasury yields rose on hopes of more domestic fiscal
stimulus.
Benchmark 10-year notes US10YT=RR last fell 7/32 in price
to yield 0.94%, from 0.91% late on Tuesday.
Oil futures were down modestly LCOc1 CLc1 , while spot
gold prices XAU= were down more than 2%, with the start of
vaccine treatment reducing safe-haven demand for the precious
metal.

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Global assets http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
Emerging markets http://tmsnrt.rs/2ihRugV
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
Rebound of major world markets https://tmsnrt.rs/370lXbY
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