Your Evening Briefing

(Bloomberg) --

Panic over Italy's political turmoil faded as investors deemed Tuesday's market rout overdone. Now, winners and losers are emerging from the fray. Bill Gross, for one, had his worst day in four years. 

Here are today's top stories

Italian President Sergio Mattarella is willing to pick a new prime minister, if the populists who denounced him are ready to resume cabinet talks.

White House trade adviser Peter Navarro undercut Treasury Secretary Steven Mnuchin for declaring that the U.S.-China trade war was on hold, calling the quote an “unfortunate sound bite.” 

China cut tariffs on range of consumer goods such as clothing, washing machines and makeup, upping the ante as more than 50 U.S. officials arrive for trade talks in Beijing. 

Ukraine staged the murder of journalist and Kremlin critic Arkady Babchenko. In a bizarre twist, officials said the goal was to catch those actually plotting his murder

While the establishment debates whether cryptocurrencies will be a boon or bust, some traders have already gotten so rich on digital money they're ditching Wall Street.  

The Federal Reserve released a proposal for easing the Volcker Rule's trading limits.The regulation was key to Washington’s efforts to make the industry safer after the 2008 meltdown. 

What's Joe Weisenthal thinking? Bloomberg’s news director is closely watching the Italian political crisis and wondering what the ECB can do to fix the problem

What you'll need to know tomorrow

What you'll want to read tonight

Polaris, maker of Indian motorcycles, ATVs and snowmobiles, is making an $805 million bet that you want a party boat.

Your Evening Briefing

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