The World Bank cut its forecasts for global growth in 2019 and 2020, citing a worsening set of factors from trade tensions to financial-market instability to currency challenges in a number of emerging markets.

The bank lowered its semiannual estimate of the global growth rate by 0.1 percentage point in both years, with cuts coming to the outlook for both advanced economies and emerging markets. The bank had previously expected most major economies to slow, and now expects that slowdown to be somewhat more significant.