Wall Street futures are positive Wednesday morning despite bad news from Microsoft and Cisco Systems.

Yesterday, a strong jump in the Institute for Supply Management non-manufacturing index was largely overlooked in the U.S. Instead, the slumping bond market rattled investors so badly that the Dow Jones Industrial Average tumbled nearly 150 points — its biggest loss in 2.5 months.

The Dow Jones Industrial Average fell 149.72 points, or 1.6%, to 9036.32, closing near its low for the day. The Standard & Poor’s 500-stock index fell 1.8%, or 17.36 points, to 965.46, its worst one-day loss since mid-May, though the index is still up 10% for the year.

Meanwhile, the European Union is accusing Microsoft Corp. of trying to monopolize markets for server software and audio-visual players. This could result in the EU making demands for changes in the Windows operating system.

In the U.S., Cisco Systems reported after the bell Tuesday. The firm says its quarterly profit grew 27%, but its revenues decreased, driving down drove the company’s stock down during extended-session trading.

Here in Canada, Research In Motion says it hasn’t given up hope of winning a U.S. patent case over its BlackBerry device. It is appealing a Virginia court decision prohibiting the sale of its main product.

Overnight in Tokyo, the Nikkei dropped 58.67 points, or 0.63%, to 9,323.91. In Hong Kong, shares fell 1.9% as investors cashed in on recent gains on property stocks.

In London at midday, the FTSE is down 1.37%. Frankfurt’s DAX has dropped 2.2% and Paris’s CAC 40 has slipped 1.43%.