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GLOBAL MARKETS-Stocks, euro fall as German data, U.S. earnings disappoint

* Euro dips, European shares subdued after downbeat German Ifo survey

* Wall Street lower in early trading

* Amazon.com, Visa down after disappointing results

* Russian shares, rouble, bonds fall; central bank surprises with rate hike

(Updates with U.S. market opening, changes dateline; previous LONDON) NEW YORK, July 25 (Reuters) - Weak German economic data and some earnings disappointments pressured world stock markets on Friday and left the euro at an eight-month low against the U.S. dollar. Stronger-than-expected U.S. durable goods data also helped the dollar. U.S. stocks were lower in early trading, hurt by results from Amazon.com and Visa, the two biggest drags on the S&P 500. Amazon dropped 11.1 percent to $318.79, while Visa was 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's All-World Index was down 0.5 percent and European stocks down 0.8 percent. The Dow Jones industrial average fell 154.06 points or 0.9 percent, to 16,929.74, the S&P 500 lost 12.36 points or 0.62 percent, to 1,975.62 and the Nasdaq Composite dropped 38.35 points or 0.86 percent, to 4,433.76. 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. 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 the U.S. durable goods report. Ten-year Treasuries were up 8/32 in price to yield 2.478 percent. Despite the heftier-than-forecast 0.7 percent overall rise in orders for long-lasting U.S. manufactured items in June, some focused on weakness in airlines and other sectors that shook optimism about U.S. economic growth. Gold edged up after dropping to a one-month low overnight, but was headed for a second straight week of losses. U.S. crude was near flat at $102.07 a barrel, while Brent was up 65 cents at $107.72.

(Additional reporting by Rodrigo Campos and Michael Connor in New York, Marc Jones in London, Lisa Twaronite in Tokyo, editing