Risk asset prices dropped around the world on Tuesday, as an ongoing political shake-up in Hong Kong, paired with trade tensions between the US and China continued to fuel investors’ concerns over a weakening global economy.

Stocks finished sharply lower Monday, in a new burst of negative sentiment, where fears over a trade-rated recession weighed on Wall Street, while falling bond yields and unrest in both Argentina and Hong Kong further dented sentiment.

Selling pressure picked up steam during yesterday’s afternoon session, knocking the benchmark S&P 500 down -1.22% in a broad-based decline led by shares in Banks (-1.96%), amid pressure as yields retreated. 

Declines in Technology shares (-1.31%), a sector also considered particularly vulnerable to US-China trade tensions, weighed on the Nasdaq Composite, down -1.15%, while the Dow Jones Industrial Average booked a -1.44% loss in its value.

More recently, the Hong Kong Hang Seng Index declined -2.10%, during Tuesday's trading, as pro-democracy protesters crowded into the territory's airport for a second day and continued to disrupt flights. The index has fallen -11% since the beginning of July, when protests turned violent.

Ahead, in today’s economic calendar, Tuesday includes; the Consumer Price Index for July at 8:30am EST, where economists expect consumer prices in July to have risen 0.3% from June, with core CPI up 0.2%. 

While, in major corporate news; Tilray (TLRY), JD.com (JD), Elanco Animal Health (ELAN), Brinker International (EAT), Advance Auto Parts (AAP) and YY Inc. (YY) are amongst today’s earnings-reporters.

Hong Kong: Hong Kong Protesters Overwhelm Airport for Second Day. (The WSJ)
Protesters swamped Hong Kong International Airport for a second straight day, blocking the gates to the security and immigration areas, and snarling the busy transit hub.

Today's Economical Announcements.

08:30AM - ★★★ - Core CPI (MoM) (Jul) (Previous: 0.3%)
08:30AM - ★★☆ - CPI (MoM) (Jul) (Previous: 0.1%)

Pre-Market Movers & News Related Stocks.

Advance Auto Parts (AAP): [EARNINGS] Reported adjusted quarterly profit of $2 per share, missing the consensus estimate of $2.21 a share. Revenue also fell short of forecasts in a quarter that the company called “challenging.” The company trimmed the high end of its full-year net sales and comparable-store sales outlooks.

Elanco Animal Health (ELAN): [EARNINGS] Reported adjusted quarterly profit of 28 cents per share, 2 cents a share above estimates. Revenue was slightly below forecasts. The Eli Lilly spinoff also narrowed its full-year earnings outlook, due to expected supply disruptions.

JD.com (JD): [EARNINGS] Reported a nearly 23% rise in quarterly revenue, more than expected, on growth in sales for its e-commerce business.

Tencent Music (TME): [EARNINGS] Earned an adjusted 67 cents per share for its latest quarter, beating consensus estimates by 6 cents a share. The China-based music service saw revenue fall below analysts’ forecasts. It also saw monthly average revenue per user, a key metric, post its slowest-ever growth.

General Electric (GE): [NEWS] CEO Larry Culp bought 331,684 shares of GE at an average price of $9.04 per share, according to a Securities and Exchange Commission (SEC) filing.

Akamai Technologies (AKAM): [NEWS] Announced a $1 billion convertible securities offering. The internet technology company intends to use $50 million from that sale to repurchase common stock.

Brinker International (EAT): [EARNINGS] Beat estimates by 2 cents a share, with adjusted quarterly profit of $1.36 per share. Revenue came in below forecasts, however. Brinker provided better-than-expected earnings forecast for the current fiscal year.

Verizon (VZ): [NEWS] Is selling blogging website Tumblr for an undisclosed amount to WordPress.com owner Automattic. 

Yum Brands (YUM): [NEWS] Yum named Chief Operating Officer David Gibbs as its next CEO, effective in January when current CEO Greg Creed steps down. 

United Parcel Service (UPS): [NEWS] UPS named PepsiCo executive vice president Brian Newman as its new chief financial officer, effective September 16. 

American Airlines (AAL): [NEWS] Won a permanent injunction against its mechanics union, which it had accused of staging illegal slowdowns. The mechanics have denied that accusation.

Constellation Brands (STZ): [NEWS] Is selling its Canadian whiskey portfolio to Heaven Hill Brands for $266 million. The deal is expected to close during the second of 2019, as Constellation moves forward with its strategy of focusing on its premium products.

D.R. Horton (DRI): [RATING] Rated “buy” in new coverage at SunTrust, which points to the growth potential in the home-building market.

KB Home (KBH): [RATING] Rated “buy” in new coverage at SunTrust, which points to the growth potential in the home-building market.

PulteGroup (PHM): [RATING] Rated “buy” in new coverage at SunTrust, which points to the growth potential in the home-building market.

McDonald’s (MCD): [RATING] Rated “buy” in new coverage at MKM Partners, which believes that strong domestic and international sales growth is sustainable for the restaurant chain. 

Netflix (NFLX): [NEWS] Hedge fund Third Point raised its stake in the video streaming service by 25 percent during the second quarter, according its quarterly 13F filing with the SEC.