European stocks slip; markets raise ECB rate hike bets

European stocks slipped on Wednesday and Wall Street futures were in the red as worries that central bank tightening will stifle global growth weighed on markets.

The World Bank on Tuesday slashed its global growth forecast by nearly a third to 2.9 per cent for 2022, warning of a period of "feeble growth and elevated inflation", and US Treasury Secretary Janet Yellen told senators that she expected inflation to remain high.

Although Asian stocks strengthened overnight following Wall Street gains, market sentiment was volatile and European indexes were mostly down.

At 0756 GMT, the MSCI world equity index, which tracks shares in 50 countries, was up 0.1 per cent.