Your Evening Briefing

(Bloomberg) --

Sudden, serious lung illness suffered by users of vaping devices has been tied to products that contain THC, the main active ingredient in marijuana, the U.S. Centers for Disease Control and Prevention said. Health authorities have identified 450 cases of lung disease in people who used vaping products. Three individuals have died.  

Here are today’s top stories

Meanwhile, vaping company Juul is under attack by Congress, accused of pushing its product as a nicotine cessation device without government approval. Juul says its only a switching device, turning tobacco smokers into vapers. A 2018 study shows, however, that more young people switch from vaping to cigarettes than adults switch from cigarettes to vaping.

Nobody knew it then, but this time last year the rallying U.S. stock market was about to begin a plunge that would erase $5 trillion. A lot of factors—the trade war, dodgy earnings, violent stock swings and weakening manufacturers—are the same today as then. But there is a difference.

Bill Ackman made a big bet on himself even as some investors were second-guessing the future of his hedge fund. So far, it’s paying off.

U.S. President Donald Trump wants to buy uranium directly from domestic producers to keep the ailing industry afloat.

From Bali beaches to Hanoi hotels, China’s economic malaise and weakening yuan are being felt across Southeast Asia’s vacation belt.

Invitation-only airport lounges are one of the loftiest privileges granted to those with “Very VIP status.” The roster includes politicians and power-brokers, celebrities and CEOs. If you have to ask, you’re not getting in.

What’s Luke Kawa thinking? The Bloomberg cross-asset reporter opines that investors may be able to wean themselves off monetary life support as long as more bad economic news doesn’t make a recession seem more likely. Trump dumping his trade war may be a means toward that end.

What you’ll need to know tomorrow

What you’ll want to listen to in Bloomberg Podcasts

When you think of the Periodic Table of Elements, what comes to mind? Maybe chemistry class, or flashbacks to memorizing combinations of letters and numbers. But what about markets? This week on “What Goes Up,” the team behind Bloomberg Businessweek’s latest issue joins to make the connection.

Your Evening Briefing

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