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Saudi Arabia and three other Arab countries cut off most diplomatic and economic ties to Qatar in an unprecedented move designed to punish one of the region’s financial superpowers for its ties with Iran and Islamist groups. Oil jumped, Qatari stocks plunged, and the volume of shares traded in Doha was more than 10-times the intraday average. The moves by the Saudis, Bahrain, the U.A.E. and Egypt came barely a week after U.S. President Donald Trump visited the region and joined Saudi Arabia in lambasting Iran for sponsoring terrorism from Syria to Yemen. Why does tiny Qatar anger its neighbors so much? Here's the answer.  

London police adjust to new terror threat with guns and helicopters. Eight minutes after Saturday night's terror rampage started, a special-forces chopper had landed on London Bridge, police had fired 50 rounds and the three attackers were dead. It's a significant change for a police force whose officers are generally unarmed.

Asia is losing faith in America. U.S. President Donald Trump’s unpredictability, transactional approach to foreign policy and perceived disinterest in alliances were overwhelming topics of concern at the annual Shangri-La meeting of defense ministers and other security officials that wrapped up on Sunday.

Americans are ho-hum on Japan's stock rally. Even with a stronger yen to boost returns in dollars, Americans aren't impressed with Japanese equities. They're more excited about Europe — especially after the French presidential election — and Asian emerging markets, according to Goldman Sachs.

Investors in the Wild West of tech are making a killing. Forget U.S. stocks and emerging market assets, and even ignore bitcoin — demand for other digital coins is surging. If you can stomach the risk the rewards could be substantial, but the sector isn't for the faint-hearted.

This enzyme is the new focus for cancer treatment. For a fetus in the womb, it means life, a shield from a mother’s immune system that would otherwise fight the embryo as an infection. Gone rogue, it can mean death — protecting malignant tumors from attacks by the body’s defenses. That enzyme, IDO, was the talk of the town at the largest gathering of cancer researchers in the world this past weekend. It's now the target of the next wave of cancer research

Rest assured, China has its economy's back. The People’s Bank of China has surprised many with its tolerance for market pain as it squeezes leverage in parts of the financial system. But, economists say, China won’t clamp down so hard it endangers President Xi Jinping’s goal to keep growth above 6.5 percent.

Your Evening Briefing
The People's Bank of China headquarters in Beijing.
Photographer: Qilai Shen/Bloomberg