GLOBAL MARKETS-Stocks, euro slip as German data, U.S. earnings drag

* Euro dips, European shares subdued after downbeat German

Ifo survey

* Wall Street lower in midday trading

* Amazon.com (NasdaqGS: AMZN - news) , Visa (Xetra: A0NC7B - news) down after disappointing results

* Russian shares, bonds fall

(Updates prices, adds quotes, details on Amazon.com results)

By Caroline Valetkevitch

NEW YORK, July 25 (Reuters) - U.S. earnings disappointments,

including from Amazon.com, and weak German economic

data pressured world stock markets on Friday, while the euro

clung to an eight-month low against the U.S. dollar.

Amazon.com was the biggest drag on the S&P 500, followed by

Visa, whose results also disappointed. Amazon dropped 11

percent to $319.24, a day after reporting an unexpectedly big

loss for the second quarter. Visa shares were down 4.9 percent

at $211.90.

"Earnings have been the driving force of this market all

week. We had a series of good reports but Amazon in particular

was a disappointment and has led to some profit-taking," said

Rick Meckler, president of LibertyView Capital Management in

Jersey City, New Jersey.

Signs emerged that tensions between the West and Russia are

starting to hurt confidence in Europe's dominant economy.

Germany's Ifo survey revealed a hefty fall in business

confidence over the last few weeks, prompting concerns the

region's growth engine and driver of its recovery could be

stuttering.

It was the third consecutive fall in an index which monitors

the mood of thousands of German firms.

MSCI (NYSE: MSCI - news) 's All-World Index was down 0.4 percent

and European stocks down 0.8 percent.

The Dow Jones industrial average fell 136.46 points

or 0.8 percent, to 16,947.34, the S&P 500 lost 10.45

points or 0.53 percent, to 1,977.53 and the Nasdaq Composite

dropped 32.08 points or 0.72 percent, to 4,440.03.

The euro hit an eight-month low against the dollar of

$1.3427 after U.S. durable goods orders data, which

followed more positive U.S. jobless data Thursday.

"U.S. data has been good or better than expected, whereas

European data continues to point to a slowdown," said Boris

Schlossberg, managing director in FX strategy at BK Asset

Management in New York.

The euro also fell on ongoing tensions between Russia and

Ukraine. European officials are to continue talks over plans to

squeeze Russia with further sanctions following the downing of a

Malaysia Airlines that killed almost 300 people.

Dollar-traded Russian stocks fell 1.6 percent to

bring losses over two weeks to roughly 12 percent. Russian bonds

also fell as the country's central bank unexpectedly raised

interest rates.

U.S. Treasuries prices jumped, with fixed-income traders

disappointed by soft spots in a U.S. durable goods report.

Ten-year Treasuries were up 8/32 in price to yield

2.478 percent.

Gold (Other OTC: GDCWF - news) edged up after dropping to a one-month low

overnight, but was headed for a second straight week of losses.

U.S. crude was down 43 cents $101.64 a barrel, while

Brent was up 80 cents at $107.87.

(Additional reporting by Rodrigo Campos and Sam Forgione in New

York, Marc Jones in London, Lisa Twaronite in Tokyo, editing by

John Stonestreet; Editing by Nick Zieminski)