GLOBAL MARKETS-Growth fears hurt stocks, US dollar; bonds up

* Investors rethink economic growth on Greek debt worry

* Chinese inflation, weak Japanese and US data a concern

* Gold, bonds benefit from safehaven flows

* US oil prices rise on weaker dollar

(Updated market action, changes dateline, byline)

By Richard Leong

NEW YORK, April 14 (Reuters) - Stocks on major world markets fell and the U.S. dollar slipped on Thursday as Greece's debt problem, Chinese inflation and disappointing U.S. jobs data stoked worries over a global economic slowdown.

Bonds and gold rose as uneasy investors shifted funds into less risky investments.

U.S. oil prices climbed on the weaker dollar.

"We do have to scale back growth expectations. The market is more concerned about what growth will be like with rising input costs," said Jerry Webman, senior investment officer and chief economist at OppenheimerFunds in New York. "People are looking at 'risk-off' trades."

World stocks, as measured by the MSCI world index <.MIWD00000PUS> shed 0.3 percent despite a burst of corporate activity that would usually lift investors' spirits.

European stocks <.FTEU3> fell 0.7 percent, while Wall Street stocks opened lower with the S&P 500 <.SPX> down 0.5 percent.

In Tokyo, the Nikkei index <.N225> bucked the trend, rising 0.1 percent following Wednesday's late gains in the U.S.

Selling in European stocks emerged on a report that Chinese inflation would re-accelerate after slowing recently. Investors are particularly concerned about Chinese inflation in case the government attempts to restrain it by raising interest rates prompts a 'hard landing' for the economy.

"Inflation in emerging economies has become a serious issue, as the impact from high commodity prices is stronger for those countries," said Arnaud Scarpaci, fund manager at Paris-based Agilis Gestion.

Hong Kong's Phoenix TV, citing an unnamed source, said China's annual rate of inflation in March was likely to be 5.3 percent to 5.4 percent, a 32-month high and just above an estimate in a Reuters poll. [ID:nL3E7FE0EO]

Stock losses grew as Greek bond yields soared, with short-dated paper coming under the most intense pressure, as markets priced in a greater probability that Athens would be forced to restructure its runaway debt.

Yields of other peripheral euro zone states also rose sharply. [ID:nLDE73D153]

Adding to jitters over the bailout cost in Europe was the toll on Japan from last month's deadly quake and tsunamis.

The Reuters Tankan survey of 400 large firms found on Thursday that power shortages caused by the crippled Fukushima nuclear plant had hit nearly 60 percent of local companies, disrupting production and supply chains. [ID:nnLME7DP00Q]

In the U.S., the surprise rise in jobless claims raised doubts over the recovery in the labor market. For more, see [ID:nN14146589]

Renewed anxiety over the U.S. economy hurt the dollar, which fell against the yen at 83.11 yen . The greenback was flat versus the euro at $1.4424 , paring its earlier gain after the weaker-than-expected claims data. [FRX/]

The weaker dollar supported oil value, despite worries over less demand if the world economy slows.

U.S. oil prices were up 76 cents at $107.82 a barrel. But in London, Brent crude was stuck in the red, down 28 cents at $122.60. For more, see [O/R]

Gold prices jumped to $1,466.40 an ounce, up from $1,454.61 late on Wednesday.

In bond trading, U.S. Treasuries firmed in price with the benchmark 10-year yield fell to 3.45 percent, the lowest level in about 1-1/2 weeks.

German Bund futures were up 0.4 percent at 120.93.

(Additional reporting by Angela Moon and Gertrude Chavez-Dreyfuss in New York; Jeremy Gaunt, Jan Harvey, Nia Williams in London)