* Stocks fall on ripple effects from Apple
* Oil falls on swelling U.S. crude stockpiles
* Gold slides 1 pct to 5-year low as investors pullback
(Adds U.S. market open, byline, dateline, previous LONDON)
By Herbert Lash
NEW YORK, July 22 (Reuters) - Global equity markets fell on
Wednesday, pulled lower by a weak revenue forecast at Apple Inc,
the world's largest company, while a rebounding dollar after its
biggest decline in a month weighed on gold and some stocks.
Apple AAPL.O shares tumbled 5 percent after the company's
fourth-quarter revenue forecast fell short of estimates and it
missed some targets for iPhone sales. ID:nL1N1012HZ
The poorly received earnings report hit companies with close
ties to Apple. In Europe, chip designer ARM Holdings ARM.L , a
major supplier, fell 6 percent and German chipmaker Dialog
Semiconductor DLGS.DE tumbled 6.6 percent.
"Apple is a really big company, and having disappointed a
little bit on the sales side of things, does tend to reverberate
around the world in technology stocks," said Wouter Sturkenboom,
a senior investment strategist at Russell Investments.
Across Europe, technology stocks shed nearly $6 billion of
market value. ID:nL5N1021VW
Art Hogan, chief market strategist at Wunderlich Securities
in New York, said there is concern regarding the lack of organic
revenue growth and the strong dollar, which will continue to be
a drag but that effect should moderate over time.
The FTSEurofirst 300 index .FTEU of leading European
shares fell 0.55 percent at 1,587.50, while MSCI's all-country
world stock index .MIWD00000PUS was down 0.67 percent.
On Wall Street, the Dow Jones industrial average .DJI fell
58.76 points, or 0.33 percent, to 17,860.53. The S&P 500 .SPX
slid 5.46 points, or 0.26 percent, to 2,113.75 and the Nasdaq
Composite .IXIC lost 39.47 points, or 0.76 percent, to
5,168.65.
The dollar index .DXY , a gauge of the greenback against a
basket of currencies, extended its rise after data showed U.S.
home resales hit an 8-1/2-year high in June, and was last up
0.33 percent at 97.648. ID:nL1N1020ZQ
The euro fell 0.39 percent to $1.0893 EUR= , while the
dollar rose 0.12 percent at 124.02 yen JPY= .
Sterling gained in response to minutes from the Bank of
England's last meeting that suggested some policymakers support
higher interest rates.
The British pound GBP=D4 rose 0.5 percent at $1.5631.
Oil prices fell as U.S. crude stockpiles rose last week,
remaining high above the five-year seasonal average, while
gasoline stocks decreased and distillate inventories rose, data
from the Energy Information Administration showed.
Brent crude LCOc1 was down 69 cents at $56.35 a barrel.
U.S. crude CLc1 dipped below $50 a barrel, trading down 92
cents at $49.94 a barrel.
Gold fell more than 1 percent to a five-year low as a bounce
in the dollar fueled downside momentum.
U.S. gold futures GCv1 for August delivery were down 1.3
percent at $1,089.10 an ounce.
Copper prices hit a two-week low as worries about demand
from top consumer China mounted.
Benchmark and long-dated Treasury yields hit their lowest
levels in nearly two weeks as poor sentiment from U.S. corporate
earnings reports drove safe-haven buying. Uncertainty ahead of
next week's Federal Reserve meeting capped gains.
Benchmark 10-year Treasury notes US10YT=RR were last up
10/32 in price to yield 2.3055 percent.
"The weakness in the stock market over the last two days has
helped push Treasuries prices higher," said Shyam Rajan, U.S.
rates strategist at Bank of America Merrill Lynch in New York.