(Update market action, change dateline, previous LONDON)
* U.S. stocks off record highs, Dow to snap streak
* Bond markets rally, German 2-year yield hits record low
* Dollar little changed but on track for weekly loss
* Oil prices fall on U.S. crude inventory increase
By Richard Leong
NEW YORK, Feb 24 (Reuters) - Key global stock markets fell on Friday as investors lowered bets that policies of U.S. President Donald Trump would benefit economic growth, and instead favored assets considered safer such as bonds and gold.
Oil futures fell, pressuring energy stocks after data showed U.S. crude inventories rose for a seventh week, signaling oversupply despite OPEC's efforts to rein in output. dollar were little changed but set for a weekly decline as the Trump administration's lack of details on tax cuts and infrastructure spending raised doubts about the chances for improved domestic growth and investments in 2017.
"The market will come to realize that a lot of these pro-growth policies might get pushed to the end of this year or next year and you might have this buyer's remorse for the market," said Aaron Clark, portfolio manager at GW&K Investment Management.
The MSCI world equity index .MIWD00000PUS , which tracks shares in 46 nations, fell 2.49 points or 0.56 percent, to 444.26. It reached an all-time peak at 447.67 on Thursday.
On Wall Street, the Dow Jones Industrial Average, which tracks blue-chip stocks, was on track to end a 10-day winning streak, the longest since 1987. It was last .DJI down 57.54 points, or 0.28 percent, to 20,752.78.
The benchmark S&P 500 .SPX lost 7.45 points, or 0.32 percent, to 2,356.36, below its record high of 2,368.26 set on Thursday.
The Nasdaq Composite .IXIC declined for a third straight day, which last happened in late December. It was down 23.47 points, or 0.4 percent, at 5,812.04.
Europe's broad FTSEurofirst 300 index .FTEU3 dropped 0.96 percent at 1,456.05.
Similar to stocks, the greenback was on its back foot. The dollar index .DXY was down 0.1 percent at 100.93, on track for a slim weekly loss. equities and the dollar lost some of their appeal, bond yields fell with German two-year Schatz yield DE2YT=RR touching minus 0.953 percent, Reuters data showed. about the first round of the French presidential election, with anti-European Union Marine Le Pen in the lead, has stoked safehaven demand for German and U.S. government debt.
Bids for less risky assets, together with traders' remote view of the Federal Reserve raising interest rates in March, bolstered gold prices to their highest in over three months.
Spot gold prices XAU= rose $7.17 or 0.57 percent to $1,256.51 an ounce.
In the oil market, Brent crude LCOc1 was last down $0.39, or down 0.69 percent, at $56.19 a barrel. U.S. crude CLc1 was last down $0.27, or down 0.5 percent, at $54.18 per barrel. Global assets in 2017
http://reut.rs/1WAiOSC 2017 asset returns
http://tmsnrt.rs/2jvdmXl Global currencies vs. dollar
http://tmsnrt.rs/2egbfVh World FX rates in 2017
http://tmsnrt.rs/2egbfVh Global bonds dashboard
http://tmsnrt.rs/2fPTds0
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