GLOBAL MARKETS: US stocks slip on oil ruling, Europe hit by banksNEW YORK, June 22 (Reuters) - Uncertainty over Washington's ban on deepwater oil drilling, coupled with weak May U.S. housing data, sank stocks and lifted Treasuries, while a high-profile credit downgrade rattled Europe's banks.
"The notion that the regulatory environment is changing, coordinated with a tougher economic outlook for consumption, would suggest (energy) stocks stay under pressure," said Joe Battipaglia, market strategist at Stifel Nicolaus in Yardley, Pennsylvania.
World stocks break 10-day rally
LONDON, June 22 (Reuters) - World stocks fell for the first time in two weeks as investors took some profits on a cooler assessment of China's weekend decision to give its currency more flexibility.
"People gave much more weight to the currency move than it deserved," said Koen De Leus, economist at KBC Securities.
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