World shares lower ahead of U.S. 1Q economic growth report

BANGKOK — Shares slipped Wednesday in Europe and Asia ahead of the latest update on U.S. economic growth, while oil prices were lower.

The Commerce Department was due to release a report on first-quarter gross domestic product later in the day. Investors worried by uncertainty over inflation, rising interest rates and the potential for a recession also were awaiting remarks by central bank leaders including Fed Chair Jerome Powell.

Germany’s DAX lost 1.2% to 13,071.73, while the CAC 40 in Paris was almost unchanged at 6,049.31. Britain’s FTSE 100 shed 0.5% to 7,287.26. The futures for the Dow industrials and S&P 500 were up 0.1%.

On Tuesday, the S&P 500 fell 2%, the Dow Jones Industrial Average fell 1.6%, and the Nasdaq fell 3% after a survey showed weaker than expected consumer confidence in the U.S., mainly due to surging prices.

A weaker-than-expected U.S. consumer…