GLOBAL MARKETS-Shares just below all-time highs, dollar moves higher

(Updates prices) * Wall St little changed as gains in telecom stocks offset by earnings * Fed policy meeting, U.S. GDP in focus * Emerging market shares hit three-year high * Oil down, U.S. crude slides on Kansas refinery fire By Angela Moon NEW YORK, July 29 (Reuters) - World share markets hovered just below all-time highs on Tuesday as investors drew encouragement from a rally in China, while Russian stocks enjoyed some respite after three days of heavy selling. In