GLOBAL MARKETS-World stocks retreat on jobs data, rising dollar

(Recasts with U.S. markets open; changes byline, dateline;
previous LONDON)
* Graphic: Global asset performance http://tmsnrt.rs/2yaDPgn
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh

By Suzanne Barlyn
NEW YORK, March 3 (Reuters) - Shares from Asia to Europe
retreated on Wednesday, while the dollar rose and Wall Street
opened down following disappointing U.S. employment data.
The pan-European STOXX 600 index .STOXX lost 0.21%,
reversing an earlier gain on Wednesday of 0.5%, with Frankfurt
shares .GDAXI climbing 1% to a record high. U.S. private employers hired fewer workers than expected in
February, which surprised investors, as did the reaction across
bond markets, which fell instead of rise, said Robert Francello,
vice president of equity sales and trading for Wedbush
Securities.
"It's letting the bond market go and is weighing on the
Nasdaq," Francello said.
The employment data suggested the labor market was
struggling to regain speed despite the nation's improving public
health picture. MSCI's gauge of stocks across the globe .MIWD00000PUS
gained 0.02%.
The Dow Jones Industrial Average .DJI rose 78.4 points, or
0.25%, to 31,469.92, the S&P 500 .SPX lost 9.8 points, or
0.25%, to 3,860.49 and the Nasdaq Composite .IXIC dropped
100.85 points, or 0.75%, to 13,257.94. Emerging market stocks rose 1.43%. MSCI's broadest index of
Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 1.73%
higher, while Japan's Nikkei .N225 rose 0.51%. U.S. services industry activity unexpectedly slowed in
February amid winter storms, while a measure of prices paid by
companies for inputs surged to the highest level in nearly
12-1/2 years, bolstering expectations for faster inflation in
the near term. The U.S. Senate is expected to take up Biden's $1.9 trillion
coronavirus relief package on Wednesday, with Democrats aiming
to get it signed into law before March 14, when some current
jobless benefits expire. That is spurring investor
optimism that more imminent U.S. stimulus will energize the
global economic recovery.
The equities retreat came as benchmark U.S. government bond
yields moved higher after declining for three straight days.
Benchmark 10-year notes US10YT=RR last fell 19/32
in price to yield 1.4808%, from 1.415%.
Euro zone government bond yields were little changed, with
the benchmark German 10-year Bund yield DE10YT=RR flat at
-0.34%. It spiked last week to -0.203%. U.K. Finance minister Rishi Sunak announced a costly
extension of his emergency aid programs to see Britain's economy
through its current coronavirus lockdown, but announced a tax
hike for many businesses as he began to focus on fixing public
finances.
The dollar gained as investors priced for strong U.S. growth
relative to other regions, while the safe-haven Japanese yen
continued to weaken to a seven-month low. The dollar index =USD rose 0.04%, with the euro EUR=
down 0.12% to $1.2074.
Brazil's economy, the largest in Latin America, shrank last
year by 4.1% amid the pandemic, data showed on Wednesday, the
worst drop in decades, but not as much as originally expected
due to cash transfers to the poor. Bitcoin BTC=BTSP jumped 6.6% to $50,607.39 and to its
highest in a week.
Spot gold XAU= dropped 1.0% to $1,721.01 an ounce. U.S.
gold futures GCc1 fell 1.37% to $1,709.40 an ounce.
Oil prices rose, boosted by expectations that OPEC+
producers might decide against increasing output when they meet
this week. U.S. crude CLc1 recently rose 2.54% to $61.27 per barrel
and Brent LCOc1 was at $63.99, up 2.06% on the day.

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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 World Index Market Cap http://tmsnrt.rs/2EmTD6j
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