| The world’s largest technology companies dragged down stocks after a rally put the market near record highs—and all this with market-darling Nvidia’s earnings due in a few days. A Bloomberg gauge of the “Magnificent Seven” megacaps sank 1.2%, bringing the S&P 500 along with it. The latter’s equal-weighted version—one that gives Target as much clout as Microsoft—hovered near all-time highs, likely tied to broader hopes that the bull market will broaden beyond tech stocks given the near-guaranteed rate cut coming next month from the Federal Reserve. Here’s your markets wrap. —Natasha Solo-Lyons Nvidia stock has gained 3,776% since the start of 2019 as the company benefits from selling the main chip necessary for artificial intelligence. It’s been minting many new multimillionaires in the process. But work hours at the company are grueling and high-stress, current and former employees said, leaving little time for jet-setting, homebuying or leisure many can now afford. Nvidia has a brewing culture problem, they warn.  Jensen Huang, co-founder and chief executive of Nvidia Photographer: Annabelle Chih/Bloomberg After a humiliating setback to his company’s space ambitions—the latest in several years-worth of mishaps and disasters for the embattled planemaker—Boeing’s new CEO faces a dilemma. NASA announced it wouldn’t bring home astronauts stranded on the International Space Station in the faulty spacecraft they arrived in (instead, it asked SpaceX). Now the decision about the future of the struggling Boeing Starliner program rests with its newly installed chief, Kelly Ortberg. Cases of Mpox are ripping through central Africa, killing hundreds and infecting thousands. So worried is the rest of the world that countries are intensely monitoring their borders for the fast-spreading virus that has been assigned the World Health Organization’s highest level of alert. But just four years after the emergence of the Covid-19 pandemic, it’s a global health emergency that could have been avoided, say scientists and public health officials. Meanwhile, Africa is bearing the brunt of the scourge. Uber was hit by a record €290 million ($324 million) fine by the Dutch privacy watchdog for failing to abide by European protection standards when it shipped sensitive data about drivers to the US. The Dutch Data Protection Authority said Uber was collecting information on drivers from Europe—such as taxi licenses, location data and in some cases criminal and medical data—and retaining it on US servers. The fine is the highest penalty ever issued by the Dutch watchdog against any company. It’s also the biggest fine assessed against Uber yet.  Uber headquarters in San Francisco, California. Photographer: David Paul Morris/Bloomberg China’s broad budget expenditure contracted and income from land sales for local governments fell at a record pace, a sign of fiscal weakness that may further increase calls on Beijing to add stimulus to support its faltering $17 trillion economy. The spending contraction came during a month when China’s ruling Communist Party convened for important economic policy meetings. The country’s top leadership pledged to make boosting consumer spending a greater focus, but fell short of outlining decisive new measures. Canada will impose new tariffs on Chinese-made electric vehicles, aluminum and steel, lining up behind western allies and taking steps to protect domestic manufacturers. The government announced a 100% levy on electric cars and 25% on steel and aluminum. Prime Minister Justin Trudeau unveiled the policy in Halifax, Nova Scotia, where he’s gathered with the rest of his cabinet for a series of meetings about the economy and foreign relations. Martin Shkreli is prohibited from possessing and selling his one-of-a-kind Wu-Tang Clan album, “Once Upon a Time in Shaolin,” a federal judge ruled, ordering the former pharmaceutical executive to turn over all copies of the album to his lawyers by Aug. 30. The decision comes a little more than two months after the court issued a temporary restraining order enjoining the convicted hedge fund manager from “using, disseminating, streaming, or selling any interests in the album.”  The custom nickel-silver box for the Wu Tang Clan album “Once Upon a Time in Shaolin.” Source: United States Marshals Service The first-ever Rolex “Rainbow” Daytona chronograph watch is set to come to auction and could fetch more than $3.5 million. The Rolex from the 1990s will be put on the block in Geneva on Nov. 8. In an unusual move, the auction house Phillips has decided not to assign a high estimate value for the piece, but expects it to sell for at least 3 million Swiss francs ($3.5 million). The watch is believed to be the first-ever example to feature the now-famous “rainbow” gem-set pattern produced by the Swiss watchmaker.  The first-ever Rolex “Rainbow” Daytona chronograph watch. Source: Phillips Get the Bloomberg Evening Briefing: If you were forwarded this newsletter, sign up here to receive Bloomberg’s flagship briefing in your mailbox daily. Bloomberg Screentime: The entertainment landscape is shifting rapidly. Cable empires are crumbling, streaming giants face new challenges and innovative forces are rising. Join our resident entertainment expert Lucas Shaw on Oct. 9-10 in Los Angeles for an unparalleled experience traversing the future of media. Network with industry titans, immerse in live experiences and enjoy a curated collection of local eats. Get your tickets today. 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