* 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 slipped on Wednesday on weaker-than-expected data from the euro zone, while the dollar strengthened as investors increasingly believe the Federal Reserve will trim monetary stimulus before other major central banks.
That sentiment damped investors' appetite for risky assets and created a modest bid for U.S. Treasuries, even in front of new supply.
Most dealers who underwrite U.S. Treasury auctions think the Fed will not start to trim its bond purchases until March 2014 or later, according to a Reuters poll done Friday after the release of October U.S. employment data.
Doubts about the euro zone's recovery and the lifespan of Britain's record low interest rates hurt stock prices there and in the euro zone. Britain's FTSE took its biggest fall in over a month and Europe's FTSEurofirst tumbled 0.56 percent as signs of a strengthening UK economy but worse-than-expected euro zone factory data hit markets from opposing sides.
Investors have been buying U.S. and European assets on the view that both regions' economies are recovering, but not strongly enough to let central banks reduce stimulus.
The Dow Jones industrial average was down 4.20 points, or 0.03 percent, at 15,746.47. The Standard & Poor's 500 Index was up 4.40 points, or 0.25 percent, at 1,772.09. The Nasdaq Composite Index was up 20.96 points, or 0.53 percent, at 3,940.88.
China's CSI300 share index fell 2.2 percent, its biggest loss in four months, after China's leaders, after a four-day plenum, failed to impress markets with their reform agenda.
Still, most market moves were constrained. Investors are waiting to hear what Fed Vice Chairman Janet Yellen - nominated to head the U.S. central bank when Fed Chairman Ben Bernanke's term concludes at the end of January - says at a Senate Banking Committee hearing on Thursday.
"Today can be summed up by ennui," said Brian Jacobsen, chief portfolio strategist at Wells Fargo funds Management in Menomonee Falls, Wisconsin. "There's a sense of dissatisfaction with the details from the Third Plenum, though investors shouldn't have expected too many details. And there is a growing fear that the euro zone may go the way of Japan in the 1990s and 2000s 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 of 30-year bonds on Thursday
The dollar rose against the euro on news the European Central Bank could start to buy assets or cut its deposit rate into negative territory to push inflation up to its target.
Data on Wednesday showed Spanish prices fell for the first time in four years in October.
ECB Executive Board member Peter Praet was quoted as saying in the Wall Street Journal that the balance-sheet capacity of the central bank could also be used to fulfill the inflation mandate. That included outright asset purchases, he said.
Praet also said the ECB still had room to move on interest rates, even after cutting the main rate to a record low of 0.25 percent last week and keeping the deposit rate at zero.
The euro was last down 0.1 percent at $1.3419 EUR after going as low as $1.3389.
The dollar struggled against most major currencies with attention turning to the Senate confirmation hearing for Yellen on Thursday.
The dollar eased 0.2 percent to 99.44 yen, not far from 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 the yen, having drawn strength from rising U.S. bond yields.
Higher U.S. bond yields tend to favor the dollar by making dollar-denominated debt more attractive to bond investors.
Regular hostages to the U.S. stimulus program, the Indian rupee and the Indonesian rupiah, stabilized in European trading but were still hurting.
MSCI's emerging market index lost about 1.3 percent as it notched its 10th straight session of falls and hit its lowest levels since mid-September.
In commodities markets, gold stood at $1,272.86 an ounce.
U.S. crude for December delivery rose $1.42 to $94.46 a barrel after flirting with 4-1/2 month lows, while Brent gained $1.27 to $107.08. Oil was helped as supply outages countered concerns about reduced U.S. monetary stimulus and a forecast rise in U.S. stockpiles.