Global stock markets fall, US yields rise after strong employment data

The MSCI world equity index which tracks shares in 50 countries, was down 1.14%. The pan-European STOXX 600 index was down 0.26%. The Dow Jones Industrial Average .DJI fell 1.05% to 32,899.7, the S&P 500 .SPX lost 1.63% to 4,108.54 and the Nasdaq Composite .IXIC dropped 2.47% to 12,012.73.

NEW YORK, June 3 (Reuters) - Global equity markets fell as U.S. Treasury yields reached two-week highs on Friday after data showed the American economy generated a greater-than-expected number of jobs in May, signaling the Federal Reserve will likely continue raising interest rates in its effort to curb inflation.

The Labor Department's closely watched employment report showed the U.S. economy added 390,000 jobs in May, with the unemployment rate holding steady at 3.6% for a third straight month, beating most analyst estimates.