* Wall Street stocks slip
* Chinese shares drop on plenum's lack of details
* U.S. Treasury to sell 10-year notes at 1 p.m. (1800 GMT
* Dollar rises against euro on ECB news
* Oil gains after flirting with 4-1/2 month low
By Ellen Freilich
NEW YORK, Nov 13 (Reuters) - Global equity markets slippedon Wednesday on weaker-than-expected data from the euro zone,while the dollar strengthened as investors increasingly believethe Federal Reserve will trim monetary stimulus before othermajor central banks.
That sentiment damped investors' appetite for risky assetsand created a modest bid for U.S. Treasuries, even in front ofnew supply.
Most dealers who underwrite U.S. Treasury auctions think theFed will not start to trim its bond purchases until March 2014or later, according to a Reuters poll done Friday after therelease of October U.S. employment data.
Doubts about the euro zone's recovery and the lifespan ofBritain's record low interest rates hurt stock prices there andin the euro zone. Britain's FTSE took its biggest fallin over a month and Europe's FTSEurofirst tumbled 0.56percent as signs of a strengthening UK economy butworse-than-expected euro zone factory data hit markets fromopposing sides.
Investors have been buying U.S. and European assets on theview that both regions' economies are recovering, but notstrongly enough to let central banks reduce stimulus.
The Dow Jones industrial average was down 4.20points, or 0.03 percent, at 15,746.47. The Standard & Poor's 500Index was up 4.40 points, or 0.25 percent, at 1,772.09.The Nasdaq Composite Index was up 20.96 points, or 0.53percent, at 3,940.88.
China's CSI300 share index fell 2.2 percent, itsbiggest loss in four months, after China's leaders, after afour-day plenum, failed to impress markets with their reformagenda.
Still, most market moves were constrained. Investors arewaiting to hear what Fed Vice Chairman Janet Yellen - nominatedto head the U.S. central bank when Fed Chairman Ben Bernanke'sterm concludes at the end of January - says at a Senate BankingCommittee hearing on Thursday.
"Today can be summed up by ennui," said Brian Jacobsen,chief portfolio strategist at Wells Fargo funds Management inMenomonee Falls, Wisconsin. "There's a sense of dissatisfactionwith the details from the Third Plenum, though investorsshouldn't have expected too many details. And there is a growingfear that the euro zone may go the way of Japan in the 1990s and2000s with deflation and dismal growth."
The benchmark 10-year Treasury note rose 10/32,its yield easing to 2.7292 percent from eight-week highs.
The Treasury will sell $24 billion sale of 10-year debt on Wednesday and hold a $16 billion auction of30-year bonds on Thursday
The dollar rose against the euro on news the EuropeanCentral Bank could start to buy assets or cut its deposit rateinto negative territory to push inflation up to its target.
Data on Wednesday showed Spanish prices fell for the firsttime in four years in October.
ECB Executive Board member Peter Praet was quoted as sayingin the Wall Street Journal that the balance-sheet capacity ofthe central bank could also be used to fulfill the inflationmandate. That included outright asset purchases, he said.
Praet also said the ECB still had room to move on interestrates, even after cutting the main rate to a record low of 0.25percent last week and keeping the deposit rate at zero.
The euro was last down 0.1 percent at $1.3419 EUR aftergoing as low as $1.3389.
The dollar struggled against most major currencies withattention turning to the Senate confirmation hearing for Yellenon Thursday.
The dollar eased 0.2 percent to 99.44 yen, not farfrom a two-month high of 99.79 yen struck on Tuesday. The U.S.currency is up about 0.4 percent so far this week against theyen, having drawn strength from rising U.S. bond yields.
Higher U.S. bond yields tend to favor the dollar by makingdollar-denominated debt more attractive to bond investors.
Regular hostages to the U.S. stimulus program, the Indianrupee and the Indonesian rupiah, stabilized inEuropean trading but were still hurting.
MSCI's emerging market index lost about 1.3percent as it notched its 10th straight session of falls and hitits lowest levels since mid-September.
In commodities markets, gold stood at $1,272.86 anounce.
U.S. crude for December delivery rose $1.42 to $94.46a barrel after flirting with 4-1/2 month lows, while Brent gained $1.27 to $107.08. Oil was helped as supplyoutages countered concerns about reduced U.S. monetary stimulusand a forecast rise in U.S. stockpiles.
- USA News