* Euro down on Greek debt jitters, hits session low
* Oil weaker on signs China's economy is cooling
* China industrial output growth eased in April
* Europe stocks up on earnings, Wall St stocks lower
(Adds details, updates prices)
By Leah Schnurr
NEW YORK, May 11 (Reuters) - Ongoing uncertainty about sovereign debt woes in the euro zone pushed the euro lower on Wednesday, while crude oil prices tumbled after data suggested China's economy is cooling.
Oil extended declines midmorning in New York after a weekly U.S. government report on oil inventories showed crude stocks rose more than expected last week. On Wall Street, the drop in oil prices hit energy shares fell, while disappointing corporate results also pulled the Dow down.
Investors fretted over whether euro zone officials will give timely aid to debt-burdened Greece and Portugal, though financial markets are braced for some form of debt restructuring in the long run.
EU finance ministers will discuss Greece's debt crisis next week but will not decide on new emergency aid until a mission to Athens that began on Wednesday gives its verdict on progress on reforms. [nLDE74A0SY]
Ministers are likely to tell Greece it must deliver on savings and privatization targets already agreed if it wants new emergency financing next year, a euro zone source said.
But Greece is already chaffing under sharp spending cuts and tax rises. Police fired teargas at dozens of youths hurling stones in central Athens and a strike against austerity brought much of the country to a halt. [ID:nLDE74A0SY]
Some poorer European nations "have never had their fiscal house in order," said John Doyle, strategist at Tempus Consulting in Washington. Investors "may have lost focus on that but it is now back in focus."
Meanwhile, Portugal hopes its bailout plan will be approved on Monday and looked set for a green light from a key German parliamentary panel. [ID:nLDE74A16A]
The euro hit a session low of $1.4275
CHINA ECONOMY SLOWING?
Data out of China showed the country's industrial input growth eased much more than expected in April, reducing the need for further aggressive monetary policy tightening even as inflation remains stubbornly high. [ID:nL3E7GB0H2]
Despite robust demand for oil in China, investors turned
their focus to signs the economy is cooling and benchmark Brent
crude oil
U.S. stocks fell with oil prices and earnings from Dow
Jones industrial average component Walt Disney Co
"Disney earnings last night were below expectations," said Giri Cherukuri, head trader at OakBrook Investments in Lisle, Illinois.
"Oil prices are down and that is affecting energy stocks today," he said. "We're getting a pullback after three days of gains in the market."
The Dow Jones industrial average <.DJI> was down 74.09 points, or 0.58 percent, at 12,686.27. The Standard & Poor's 500 Index <.SPX> slipped 7.23 points, or 0.53 percent, to 1,349.93. The Nasdaq Composite Index <.IXIC> was off 7.45 points, or 0.26 percent, to 2,864.44.
U.S. stocks have partially recovered in the past two days from four days of falls last week and remain near the three year highs seen in early May.
European shares held onto gains as strong corporate results there offset euro zone jitters. The FTSEurofirst 300 index <.FTEU3> rose 0.2 percent.
World stocks as measured by the MSCI stock index <.MIWD00000PUS> reversed earlier gains to lose 0.4 percent. (Additional reporting by Rodrigo Campos and Nick Olivari; )