Global stocks pare losses, but safe havens still bid after strong U.S. data

By Dion Rabouin NEW YORK (Reuters) - U.S. stocks reversed early losses on Wednesday but fears of instability in the European Union and prolonged global stagnation sent bourses in most parts of the globe lower as Britain's pound sank below $1.30 for the first time in more than three decades. Wall Street turned upward to show modest gains after the release of positive U.S. economic data and a turn higher in oil prices. The Dow Jones industrial average rose 32.56 points, or 0.18 percent, to 17,873.