• U.S. weekly jobless claims drop below 400,000; service sector index at record high in May
  • Indexes: Dow drops 0.07%; S&P sheds 0.36%; Nasdaq nixes 1.03%
  • Oil prices hold gains; Gold slips
  • Graphic: World FX rates https://tmsnrt.rs/2RBWI5E

LONDON, June 3 (Reuters) – Global equities markets lagged on Thursday after stepping back from near-record levels earlier in the week, as investors studied strong U.S. data reports for economic recovery and inflation signals.

U.S. stocks wavered during the session and ended lower as investors experienced rosy reports about corporate tax hikes but still wary about the Federal Reserve potentially shifting monetary policy. read more

Analysts said the moves in major stock indexes have been muted in recent days as concerns about high valuations for many stocks following the months-long rally in U.S. markets gives some investors pause.

“The market is digesting strong economic data with some inflationary pressures…

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