There were two mass shootings within 24 hours in America this weekend. The first occurred Saturday in the border town of El Paso, where a suspect killed 22 people with an assault rifle after posting a manifesto laced with words and phrases President Donald Trump has used to attack immigrants and journalists. The second occurred Sunday in Dayton, Ohio, where another shooter clad in body armor murdered nine people before being shot dead. Democrats blamed Trump’s racially divisive and anti-immigrant rhetoric for inciting the violence. Firearms stocks spiked. —Josh Petri

Here are today’s top stories

Don’t let this moment pass, Michael R. Bloomberg writes of the two mass-shootings in Bloomberg Opinion. These new atrocities need to change the political dynamic, he said.

U.S. stocks plunged the most this year as China responded to Trump’s latest tariff threats. The yield curve blared its loudest U.S. recession warning since 2007. Bitcoin, an unlikely safe haven, approached $12,000.

The trade war Trump triggered with China could include more land mines for an already weakening global economy.

Hong Kong protesters moved to shut down the city with a general strike after a ninth straight weekend of unrest tied to China’s tightening grip on the Asian financial hub.

The world is awash in dirty money. After years of scandals and billions of dollars in fines, banks are struggling to keep up.

Silicon Valley’s latest unicorn is run by a 22-year old. Alexandr Wang’s Scale AI is trying to streamline the process of improving artificial intelligence.

What’s Joe Weisenthal thinking about? The Bloomberg news director thinks the anxiety currently surrounding a no-deal Brexit may prove to be an interesting test of Modern Monetary Theory. It’s often caricatured as stating that governments can spend and print money like crazy without any consequences. In reality, MMT adherents make a much narrower claim: that in advanced economies issuing their own currencies, government debt doesn’t carry credit risk.

What you’ll need to know tomorrow

• Bernie Sanders was once a healthcare radical. Now he’s the norm.
• The two largest U.S. daily newspaper publishers are merging.
• Roger Stone asked a judge to let him back on social media.
• Vladimir Putin’s pledge to ditch the dollar is becoming a reality.
• The global trade war is taking a toll on the private jet industry.
• Japan took another step toward making flying cars a reality.
• U.S. courts are cracking down on litigious porn producers.

What you’ll want to read in Businessweek

Cult-Favorite Topo Chico Breaks Out of Texas

Naturally fizzy mineral water Topo Chico has been bottled from the same underground source in northeastern Mexico since 1895, but it never made it much further than Texas until Coke acquired the brand in 2017. As beverage behemoths move away from sugary drinks, it’s finally getting its turn in the spotlight. 

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