The stock market held onto slight gains Tuesday after the World Bank cut its 2025 growth forecast.

The World Bank’s June forecast for 2025 real gross domestic product growth was 2.3%, down 0.4 percentage point from the January projection. The 2026 forecast was also lowered to 2.4%, down 0.3 percentage point.

“The sharp increase in tariffs and the ensuing uncertainty are contributing to a broad-based growth slowdown and deteriorating prospects in most of the world’s economies,” the World Bank’s June 2025 Global Economic Prospects report read.