CORRECTED - GLOBAL MARKETS-Stocks slump, Swiss franc falls on cen bank move

(Corrects 4th bullet point to record high)

* Global stocks fall on recession fears, euro debt crisis

* Switzerland moves to slow safe haven flows into franc

* Benchmark Bund, Treasuries yields near historic lows

* Gold slips from record high, still near $1,900 an ounce (Updates market action, changes dateline, previous London)

NEW YORK, Sept 6 (Reuters) - Global stock markets fell on Tuesday on fears about a U.S. recession and the European debt crisis worsening, while the Swiss franc sagged against the euro after Switzerland's central bank sought to slow the safe-haven stampede into its currency.

The Swiss central bank's move to peg its currency to the euro at 1.20 francs reduced the safe-haven appeal of gold, but the precious metal was not far from its record high above $1,900 an ounce.

Nervous investors channeled cash into less risky U.S. and German government debt, pushing benchmark yields to historic lows.

"Market concerns have resurfaced regarding the euro debt struggles and global economic stability. This is driving fear among investors and bringing an atmosphere of reduced equity exposure," said Andre Bakhos, director of market analytics at Lek Securities in New York. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Insider show, click on:

http://link.reuters.com/bab63s

BREAKINGVIEWS column: [nL5E7K61GT]

Graphic on move in EURCHF: http://link.reuters.com/mab63s

Gold correlation with dollar: http://r.reuters.com/ryx52s

Inflation adjusted gold price: http://r.reuters.com/pun62s ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Wall Street stocks opened down more than 2 percent after a three-day holiday weekend. Friday's U.S. jobs report, which showed zero net jobs growth, also hurt investor confidence. [.N]

The pan-European FTSEurofirst 300 .FTEU3 was down 1.4 percent after falling more than 4 percent on Monday on renewed worries about Europe's ability to solve its debt problems.

World stocks as measured by MSCI <.MIWD00000PUS> fell 1.5 percent, while Japan's Nikkei .N225 closed off 2.2 percent.

After the Swiss National Bank announcement, the euro was trading at just above the 1.20 Swiss franc target after earlier being at around 1.10 francs. For details, see [ID:nL5E7K61FL]

The euro also firmed against the dollar, trading at $1.4131

Ten-year German and U.S. government debt yields stayed near historic lows, well below 2 percent, signaling that the intensive search for safety was undisturbed. [US/]

The Swiss central bank's move rocked a number of other assets, notably gold which lost some allure to trade at $1,895 an ounce. (Reporting by Chuck Mikolajczak in New York; Jeremy Gaunt, Atul Prakash, Jonathan Gould and Edward Taylor in London and Emma Thomasson and Catherine Bosley in Zurich; writing by Richard Leong; Editing by Chizu Nomiyama)

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