GLOBAL MARKETS - Stocks Wilt, Bond Yields Jump as Investors Focus on Rates

GLOBAL MARKET - NEW YORK/LONDON, May 29 (Reuters) - A global equities gauge fell on Wednesday while U.S. Treasury yields rose after a third weak government debt auction in a row, and investors worried about higher interest rates while they waited for a key U.S. inflation report due on Friday.

The dollar index gained as it was bolstered by higher bond yields across the board and the greenback rose to a four-week high against the Japanese yen.