Stock market today: Worries over rates and inflation send world shares lower

Shares retreated in Europe and Asia on Friday after unexpectedly strong reports on the U.S. economy raised the possibility of interest rates staying painfully high.

U.S. futures edged higher, while oil prices fell back.

In early European trading, Germany’s DAX lost 0.6% to 18,638.00, while the CAC 40 in Paris gave up 0.4% to 8,071.23. Britain’s FTSE 100 shed 0.5% to 8,301.27.

The futures for the S&P 500 and the Dow Jones Industrial Average edged 0.1% higher.

Japan’s...