* World share markets slip, U.S. bond yields flat after
* Wall Street lower as retail earnings disappoint
* Investors warily eye Thailand martial law declaration
(Updates with U.S. markets open; changes dateline; previous
By Caroline Valetkevitch
NEW YORK, May 20 Global stock indices were lower
on Tuesday after weaker-than-expected earnings, while the dollar
fell for a fifth straight session against the yen.
U.S. stocks were pulled down by retailers, including TJX
Companies, which posted lower-than-expected quarterly
A persistent fall in U.S. Treasury yields, reflecting
uncertainty about global economic growth, has undermined the
dollar recently. But U.S. Treasuries were mostly flat on
"There's a little bit of risk-off sentiment given the
declines in stocks," said Kim Rupert, managing director for
fixed income at Action Economics in San Francisco.
Concerns surrounding Ukraine remained an "undercurrent," she
MSCI's all-world equity index, which tracks
shares in 45 nations, was down 0.2 percent, while European
shares slipped 0.1 percent.
Vodafone shares fell after the company wrote
down the value of some of its European businesses, citing
fierce competition and regulatory changes in Europe.
On Wall Street, the Dow Jones industrial average fell
46.39 points, or 0.28 percent, at 16,465.47. The Standard &
Poor's 500 Index was down 4.17 points, or 0.22 percent,
at 1,880.91. The Nasdaq Composite Index was down 10.29
points, or 0.25 percent, at 4,115.52.
Investors will soon turn their focus to minutes from the
last Federal Reserve policy meeting, due on Wednesday, and
whether that will give any hints on the likelihood and timing of
At the same time, markets are optimistic over fresh support
from the European Central Bank, one of the few central banks
still keeping monetary policy loose.
In mid-morning trading, the dollar fell 0.3 percent to
101.26. The pair traded below the 200-day moving average,
a key technical gauge, for a second straight day.
The Australian dollar was the biggest mover of the
day, falling to a two-week low against the greenback on a slide
in prices for iron ore, the country's biggest export earner.
Benchmark 10-year U.S. Treasury note prices were
last up 3/32 to yield 2.525 percent, from a yield of 2.536
percent late Monday.
Nervousness also washed in from Asia, where Thailand
declared martial law overnight after months of unrest
Thailand's baht initially fell against the dollar,
then steadied as dealers suspected the Thai central bank had
intervened. Bangkok's SET index pared
some of its early losses to end down 0.8 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan
slipped 0.4 percent.
(Additional reporting by Marc Jones and John Geddie in London;
Editing by Dan Grebler)