Before the bell: Stocks set for weak open

U.S. stocks were set for a lower open Wednesday, following a selloff on renewed concerns about oil and the Libyan conflict.
U.S. stocks dropped Tuesday, with all three major indexes down more than 1%, as oil prices spiked to more than $100 a barrel.

World markets: World markets fell sharply Wednesday, a day after the big U.S. selloff, as forces loyal to leader Moammar Gadhafi attacked rebels in eastern Libya.
European stocks slumped at midsession. Britain's FTSE 100 slipped 0.5%, the DAX in Germany lost 0.7% and France's CAC 40 fell 0.7%.
Asian markets ended sharply lower. The Shanghai Composite slid 0.2%, while the Hang Seng in Hong Kong tumbled 1.5% and Japan's Nikkei sank 2.4%.
Economy: ADP released its latest private-sector jobs report, showing a gain of 217,000 jobs for February.
Economists had forecast the ADP report to show that private businesses hired 165,000 new workers last month, down from 187,000 in January.
A crude oil inventory report will be released at 15:30 GMT.
Companies: Warehouse retailer Costco (COST, Fortune 500) reported second-quarter earnings of $348 million, or 79 cents a share. Revenue jumped 11.3% year-over-year to $20.88 billion, slightly beating expectations. Shares edged lower in premarket trading.
Shares of Yahoo (YHOO, Fortune 500) climbed about 2% before the opening bell, amid reports that the online portal company is in talks to sell its 30% stake in its Yahoo! Japan venture.