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* U.S. bond prices rise on Fed official's comments
* Australian dollar slumps
* Wall Street off as retail earnings disappoint
* Investors eye Thailand martial law declaration (Updates prices, adds oil closing prices)
By Caroline Valetkevitch
NEW YORK, May 20 (Reuters) - Global stock indexes fell onTuesday after disappointing earnings and forecasts, while thedollar fell for a fifth straight session against the yen.
Retailers such as TJX Companies, which posted alower-than-expected quarterly revenue, were among the biggestpercentage decliners on the S&P 500.
U.S. Treasuries yields dipped after New York Federal ReservePresident William Dudley said the central bank will likely beslow in raising interest rates.
A persistent fall in U.S. Treasury yields, reflecting uncertainty about global economic growth, has undermined thedollar.
The greenback could fall further against the yen if the Bankof Japan does not expand its asset purchase program.
On Wednesday, the Japanese central bank is widely expectedto keep its policy unchanged, but the market will be focused onBoJ Governor Haruhiko Kuroda's news conference.
"A greater deviation in the policy outlook may trigger afurther decline in the exchange rate," said David Song, currencyanalyst at DailyFX, a unit of FX broker FXCM in New York.
Wednesday also brings minutes from the last Fed policymeeting, which could shed light on the likelihood and timing ofrate rises. Fed Chair Janet Yellen said in March that thecentral bank could raise rates six months after its bond-buyingprogram ended.
MSCI's all-world equity index, which tracksshares in 45 nations, was down 0.5 percent, while Europeanshares closed down 0.1 percent.
Shares of Britain's Vodafone fell after the companysaid next year's earnings would be hit by investment in itsnetwork, as it reported lower 2014 results due to writing downthe value of European operations.
On Wall Street, the Dow Jones industrial average fell137.55 points or 0.83 percent, to 16,374.31, the S&P 500 lost 12.25 points or 0.65 percent, to 1,872.83 and the NasdaqComposite dropped 28.92 points or 0.7 percent, to4,096.89.
Shares of TJX tumbled 7.6 percent to $53.95 while the S&Pretail index lost 1 percent.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.4 percent after Thailand declaredmartial law after months of unrest.
AUSSIE SLUMPS
The dollar fell 0.2 percent to 101.29 yen. The pairalso traded below its 200-day moving average - a key technicalgauge - for a second straight day.
The Australian dollar, meanwhile, fell to a two-week lowagainst the greenback, hurt by a slide in prices of iron ore,the country's biggest export earner. Late on Tuesday, theAustralian currency slid 0.8 percent to US$0.9254,after earlier dropping to US$0.9251, its lowest since May 5.
Benchmark 10-year U.S. Treasury note prices wereup 6/32 to yield 2.512 percent, from 2.536 percent late Monday.
Brent crude rose 32 cents to settle at $109.69 abarrel, supported by instability in Libya, while U.S. crudefutures slipped 17 cents to settle at $102.44.
Platinum group metals rose as South Africa's longest andcostliest miners' strike continued. Spot platinum was up0.1 percent at $1,464.75 an ounce. (Additional reporting by Gertrude Chavez-Dreyfuss in New York;Editing by Dan Grebler and James Dalgleish)
