LONDON—World stocks paused for breath on Friday but are set for a second consecutive week of gains for the first time in 2022 though sentiment was broadly cautious as markets evaluated the economic risks from the Federal Reserve’s policy tightening and Russia’s war in Ukraine. U.S. stock futures were marginally higher in the last full week of the quarter while European stocks are set for a minor weekly loss led by financials and energy stocks after two weeks of gains. Even though global flash PMI data for March this week showed the world economy was broadly resilient, investors have turned increasingly bearish on the economic outlook. Barclays, for example, cut its 2022 world economic growth forecast this week to 3.3 percent while traders have ramped up short bets. German business morale deteriorated in March due to worsening supply chain issues resulting from high petrol prices as well as driver shortages, …