A discouraging report suggesting the U.S. economy may have shrunk at the start of the year, before most of President Donald Trump’s announced tariffs could take effect, is knocking U.S. stocks lower on Wednesday.

U.S. stock index futures pointed to a lower open on Wednesday as data showed the world's largest economy contracted in the first quarter, amplifying worries about the fallout from President Donald Trump's tariff policies.

U.S. stocks are sinking following a discouraging report suggesting the U.S. economy may have shrunk at the start of the year.