* Wall St lower as tech slide resumes
* Dollar hits June high after data backs continued Fed
* Three BoE policymakers vote for rate hike
* Yields inch up from depressed levels on U.S. data, Fed
(Updates with early U.S. markets' trading, changes dateline,
By Caroline Valetkevitch
NEW YORK, June 15 World stock indexes fell on
Thursday as technology shares extended their recent selloff,
while the prospect of tighter monetary policy in the United
States and Britain pushed up the dollar.
High global inventories and doubts about OPEC's ability to
implement agreed production cuts pressured oil prices.
The Federal Reserve on Wednesday raised interest rates, as
widely expected, and signaled another hike could follow this
year. Its statement prompted worries for some investors that the
tone was hawkish.
"When you look at the economic data, it really doesn't point
to an aggressive Fed. But you listen to the comments yesterday,
and they’re still on the aggressive side as far as raising
rates," said Paul Nolte, portfolio manager at Kingsview Asset
Management in Chicago.
In a sign that the squeeze on consumers may get tighter
before long, three Bank of England policymakers voted to raise
rates against five for keeping rates on hold. Economists polled
by Reuters had expected a 7-1 vote in favor of no change.
The recent selloff in tech shares, which have led sector
gains so far this year, has been prompted in part by investors
trying to take profits in an area that has led market gains this
year and has fueled concern about stretched valuations in the
The U.S. technology index was down 0.8 percent,
leading a broad decline in the S&P 500, pulled down by
heavyweights including Apple Inc and Alphabet Inc
after bearish research comments. The tech index is
down about 4 percent since Thursday's close.
The Dow Jones Industrial Average was down 43.57
points, or 0.2 percent, to 21,330.99, the S&P 500 had
lost 11.44 points, or 0.47 percent, to 2,426.48 and the Nasdaq
Composite had dropped 55.35 points, or 0.89 percent, to
The pan-European FTSEurofirst 300 index lost 0.3
percent and MSCI's gauge of stocks across the globe
fell 0.9 percent.
The dollar rose to its highest in more than two weeks as
solid readings on the U.S. economy helped strengthen the case
for the Fed to continue tightening.
The number of Americans filing unemployment claims fell more
than expected last week, suggesting slack in the labor market
was shrinking, and the Philadelphia Fed business conditions for
June beat expectations after a strong reading in
The reports followed weak inflation data on Wednesday.
The dollar index, which tracks the U.S. currency
against six major peers, rose to 97.557, its highest since May
The stronger-than-expected U.S. economic data also boosted
U.S. Treasury yields, with two-year yields touching their
highest in three months. But most yields remained depressed
after their biggest plunge in a month Wednesday.
U.S. two-year yields hit 1.368 percent, their
highest in three months.
Brent crude oil was down 0.3 percent to $46.87 a
barrel after hitting its weakest since May 5. U.S. light crude
was down 0.6 percent at $44.46.
For Reuters Live Markets blog on European and UK stock
markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets
(Additional reporting by Lewis Krauskopf in New York and Nigel
Stephenson in London; Hideyuki Sano in TOKYO, Ritvik Carvalho
and Abhinav Ramanarayan, and Jan Harvey in LONDON; Editing by
Louise Ireland and Nick Zieminski)