U.S. equities are weaker to begin the week
U.S. equities are weaker to begin the week, weighed down by a fresh round of global uncertainty. The NASDAQ is 0.4% weaker, the S&P 500 has lost 0.2% and the Dow is down 0.3% in pre-market trading. European stocks are mostly mildly weaker, having trimmed earlier losses, with the Euro Stoxx slipping 0.2%. Turkish President Erdogan's move to replace the Turkish central bank head have added to the risk-off backdrop in the markets. A new Greek government that has the conservatives taking the reigns is also in the mix. And markets remain cautious ahead of Fed Chairman Powell's testimony Wednesday and Thursday. Ongoing criticism of Powell by President Trump continues to rattle the markets. In Asia, China's CSI 300 fell 2.3%, Hong Kong's Hang Seng pulled-back 1.5%, Japan's Nikkei 225 was off 1.0% and South Korea's KOSPI contracted 2.2%. Deepening trade tensions between Japan and South Korea featured overnight after Japan put export restrictions on specialized products needed to make semiconductors and computer displays while also threatened to remove South Korea from a list of trusted buyers. Continued protests in Hong Kong also featured.