GLOBAL MARKETS-Stocks tumble on growth concerns, bond yields slip

MSCI's gauge of stocks across the globe .closed down 0.91%. The pan-European STOXX 600 index .fell 1.14%.On Wall Street, the Nasdaq Composite .IXIC dropped 2.35% and the S&P 500 .SPX lost 0.81% as investors turned to defensive positions. But shares pares losses late and the Dow Jones Industrial Average .DJI managed to close up 0.15%.

NEW YORK/LONDON, May 24 (Reuters) - Shares slid worldwide on Tuesday as supply chain woes and surging costs hurt corporate earnings and manufacturing output slowed, while Treasury yields dipped as the weakness in equities revived a safe-haven bid for U.S. government debt.

The stock market's two-day relief rally ended as investors worried about slowing economies. Corporate profit margins have been squeezed, with soaring inflation forcing consumers to cut discretionary spending.