U.S. equities are weaker
U.S. equities are weaker amid elevated risk-aversion. The Dow is down 0.5%, S&P 500 is off 0.5% and the NASDAQ has fallen 0.6% in pre-market trading. President Trump again dented hopes for a thawing in the trade war with China, saying that he would be "fine" if trade talks scheduled for September do not happen. In Europe, the rising risk that Italy's government will collapse and increasing prospects of a "no-deal" Brexit outcome for the U.K. are in focus. The Euro Stoxx is down 0.2%, the DAX is also off 0.2% and the U.K.'s FTSE has declined 0.4%. In Asia, Hong Kong's Hang Seng dropped 0.4% as ongoing political protests escalated. China's CSI 300 bounced 1.8% amid hopes the PBoC will keep rates low to support growth. Japan's market was closed for a holiday.