Stocks set for weak open as World Bank cuts growth forecast

|By:, SA News Editor

Stock futures follow global equities lower after the World Bank trimmed its outlook for global growth to 2.8% for the year from an earlier 3.2% while cutting its forecast for U.S. growth to 2.1% from 2.8%; Dow -0.4%, S&P and Nasdaq -0.5%.

Major European bourses are lower across the board, with markets ending mixed across Asia.

With little economic news to focus on, the World Bank's downbeat report is providing an excuse for what some see as a much needed pullback; also taking some blame for early weakness is Eric Cantor's surprise defeat in a Virginia House race, which is seen as a blow to moderate Republicans.

Treasurys hover just below their best levels of the session, with the 10-year yield down one basis point at 2.64%.

Still ahead: EIA petroleum inventories.