GLOBAL MARKETS-Stocks buckle, dollar slips as investors mull Fed action

Global equity markets and gold slumped, while the dollar eased on Thursday after the Federal Reserve reminded investors of the long slog ahead for a full recovery that was reinforced by data showing persistently high claims for U.S. unemployment benefits. U.S. Treasury yields dropped and the yield curve flattened as investors expressed disappointment that after its policy-setting meeting on Wednesday the Fed did not unveil more measures to stimulate the economy. The number of Americans filing new claims for unemployment benefits fell less than expected last week and applications for the prior period were revised up, suggesting the labor market recovery had shifted into low gear amid fading fiscal stimulus.


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