GLOBAL MARKETS-Stocks fall as oil hits $60; yen off vs dollar
(Updates with U.S. market activity, changes byline)
NEW YORK, Feb 9 (Reuters) - U.S. stocks fell on Friday after a major global chip maker sparked concerns about weakening consumer demand, and crude oil rose above $60 a barrel for the first time in a month.
Meanwhile, the yen fell against the euro for the fourth straight day and against the dollar for the third session in a row, on growing doubts that finance officials at the Group of Seven meeting in Germany this weekend would take any action to stem the Japanese currency's decline.
The euro was up 0.2 percent at 158.14 yen EURJPY=, recovering from a short, sharp fall earlier in European trade. The dollar was up 0.5 percent at 121.63 yen JPY=, rising as high as 121.75, according to Reuters data, its highest since Jan. 31.
In the stock market, Micron Technology Inc. (MU.N), the biggest U.S. memory chip maker, pressured indexes, notably punishing the shares of semiconductor companies such as Intel Corp. (INTC.O), after Micron said it sees a tough market ahead for its key products.
Micron shares registered their biggest one-day percentage slide in more than 3 months, falling about 3 percent at $12.56.
"Micron came out with an announcement talking about softness in NAND flash, and when that came out the semis just deteriorated," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey.
NAND flash refers to the kind of memory chip used in digital music players, cameras and other devices.
The Dow Jones industrial average .DJI was down 56.80 points, or 0.45 percent, at 12,580.83. The Standard & Poor's 500 Index .SPX was down 10.25 points, or 0.71 percent, at 1,438.06. The Nasdaq Composite Index .IXIC was down 28.85 points, or 1.16 percent, at 2,459.82.
The Philadelphia Stock Exchange's index of semiconductor stocks .SOXX, which includes Micron, fell 1.38 percent, putting it on track for its worst weekly performance since a 5.3 percent drop in the week of Jan. 21.
On the Nasdaq, shares of Intel Corp., the world's largest chip maker, fell 1.5 percent to $21.03. Intel ranked among the 10 biggest drags on the Nasdaq 100 .NDX.
Also dragging major indexes was the rise in crude futures. Oil prices topped $60 a barrel -- a key psychological level -- for the first time in a month, building on Thursday's $2 gain that was sparked by a production interruption at a California oilfield.
On the New York Mercantile Exchange, crude oil for March delivery CLH7 settled up 18 cents at $59.89, after rising as high as $60.42 a barrel in mid-day trading Friday. Forecasts call for about 10 more days of bitter cold weather in the U.S. Northeastern and Midwestern states.
In overseas stock markets, the pan-European FTSEurofirst 300 index .FTEU3 ended 0.5 percent higher at 1,542.21, while Tokyo's Nikkei index .N225 jumped 1.2 percent to 17,504.33.
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