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By Sinéad Carew and Dhara Ranasinghe
NEW YORK/ LONDON (Reuters) - MSCI's global equities index was lower on Monday, oil prices fell on the prospect of production increases and Taiwan's dollar hit its highest in nearly three years against the U.S. dollar, marking the start of a busy week for central banks.
In U.S. Treasuries, yields rose after data showed U.S. services sector growth in April was boosted by increased orders.
The measure of prices paid by businesses for materials and services reached the highest level in more than two years, indicating tariffs have added to inflationary pressures.
Gold prices rallied, driven by a weaker U.S. dollar and safe-haven demand ahead of the U.S. Federal Reserve's interest rate policy decision due later in the week.
MSCI's gauge of stocks across the globe fell 0.55 points, or 0.06%, to 848.70. Overall trading was subdued by public holidays in countries including Britain, China and Japan. The pan-European STOXX 600 index rose 0.2%.
On Wall Street, all three major averages regained some lost ground, but the S&P 500 was heading for its first decline after nine straight days of gains.
This was partly due to renewed uncertainty about U.S. President Trump's trade policies after he announced a 100% tariff on movies produced outside the U.S. but offered little clarity on how the levies would be implemented.
"Markets like certainty and investors woke up this morning with more uncertainty as to what might happen with tariffs," said Adam Sarhan, chief executive of 50 Park Investments in Orlando, Florida.
The movie tariffs hit shares in video streaming providers, such as Netflix and Paramount Global, on Monday.
Sarhan said investors are concerned more industries could be targeted "if investors wake up to another 100% or 200% levy on some other industry which is integral to our economy."
Trump said on Sunday that the United States was meeting with many countries, including China, about trade and that his main priority with China was to secure a fair deal.
Optimism around a potential de-escalation of trade tensions between the U.S. and China has boosted markets in recent days, with European shares trading just below levels seen before Trump's April 2 major tariff announcement roiled markets.
On Wall Street at 11:00 a.m. the Dow Jones Industrial Average rose 58.66 points, or 0.14%, to 41,376.72, the S&P 500 fell 18.49 points, or 0.33%, to 5,668.18 and the Nasdaq Composite fell 89.72 points, or 0.50%, to 17,888.23.
Other big drag's from individual stocks included Class B shares of Warren Buffett's Berkshire Hathaway, which fell after Buffett said at the weekend he will step down as CEO of the conglomerate.