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. —Margaret Sutherlin Here are today's top storiesItalian 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 tomorrowWalmart is offering to pay for its U.S. employees' college tuition.The maker of Ambien told Roseanne racism isn't a known side effect of the medication.Singapore Airlines will revive the world's longest flight from New York. Tesla's Model 3 won a recommendation from Consumer Reports after a software update.Sergio Marchionne will bet the future of Fiat Chrysler on Jeep and Maserati, not Fiat.Jeff Bezos told shareholders that Amazon will pass government scrutiny with "flying colors." Add these five destinations in the Balkans to your travel wish list. What you'll want to read tonightPolaris, maker of Indian motorcycles, ATVs and snowmobiles, is adding a party boat company to its portfolio. Like Bloomberg's Evening Briefing? Subscribe to Bloomberg All Access and get much, much more. You'll receive our unmatched global news coverage and two in-depth daily newsletters, The Bloomberg Open and The Bloomberg Close. How much should you be saving for retirement? Bloomberg News’ personal finance Facebook group, Money Talks, is filled with tips to help you save money, become better informed about where your money goes, or better organize your financial life. Download the Bloomberg app: It's available for iOS and Android. | 