* Brent sits below $60 a barrel after weakest month in decade
* Europe lower, DAX stock index heads for fourth month of losses
* Negative Trump-Xi meeting outcome could spark volatility
* Oil slips again, Russia considers output curbs
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh (Changes byline, dateline from LONDON; adds Wall Street open; updates throughout)
By Hilary Russ
NEW YORK, Nov 30 (Reuters) - Oil prices retreated further on Friday amid a global glut, racking up a 20 percent drop for November, while most major equity markets kept moves tight ahead of weekend talks between U.S. President Donald Trump and Chinese leader Xi Jinping.
In Europe, Frankfurt's export-heavy DAX .GDAXI stock index and Britain's domestic-focused FTSE 250 .FTMC both faced a fourth consecutive month of declines.
The German index saw its worst run since late 2008, weighed by Deutsche Bank DBKGn.DE shares falling to an all-time low as police searched its headquarters for a second day in a money laundering scandal linked to the Panama Papers. gauge of stocks across the globe .MIWD00000PUS shed 0.10 percent, while the pan-European STOXX 600 index .STOXX lost 0.17 percent.
On Wall Street, the Dow Jones Industrial Average .DJI fell 15.34 points, or 0.06 percent, to 25,323.5, the S&P 500 .SPX gained 5.69 points, or 0.21 percent, to 2,743.45 and the Nasdaq Composite .IXIC added 25.14 points, or 0.35 percent, to 7,298.22.
November's real humdingers have been oil and shares of Apple AAPL.O which have plunged 21 percent and 18 percent respectively, the biggest declines for both since the financial crisis a decade ago.
Swelling inventories depressed sentiment and oil prices, despite widespread expectations that OPEC and Russia would agree on some form of production cut next week. O/R
U.S. crude CLcv1 fell 0.6 percent to $51.14 per barrel and Brent LCOc1 was last at $58.68, down 1.39 percent on the day.
Markets could have a wild December if Trump and Xi fail to de-escalate their trade rhetoric during talks at this weekend's G20 meeting in Argentina. don't want to get too optimistic heading into a meeting, because the (U.S.) president is kind of a wild card," said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.
"You don't know how tough he'll be with this meeting and these negotiations."
Data on Friday added to the anticipation, showing that growth in China's vast manufacturing sector had stalled this month for the first time in more than two years. has sent mixed signals saying, "I think we're very close to doing something with China but I don't know that I want to do it," because the money coming in from the tariffs he has imposed has been so lucrative. dollar rose as investors prepared for fallout from the talks, which are expected to increase volatility across markets. dollar index .DXY , tracking it against six major currencies, rose 0.39 percent, with the euro EUR= down 0.61 percent to $1.1321.
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