| This time it was Elon and not the shorts who got burned. Tesla lost almost $200 billion in its biggest two-day slide in 14 months. Why you ask? Musk’s ill-conceived Twitter poll asking whether he should sell 10% of his stake was followed by news his brother Kimbal sold some shares just before the strange social media survey. Then there’s Michael Burry, the “The Big Short” investing wizard, who reportedly said Musk may want to sell stock to cover personal debts. —David E. Rovella
Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts. A police chief accused of “inflated political ambitions” is arrested. A former top leader comes under scrutiny after a tennis star said he pressured her for sex. These are just two examples of the harsh spotlight some Chinese officials find themselves under as Communist Party leaders meet this week, kicking off the closest thing to a campaign season for President Xi Jinping. It’s all a prelude to next year’s congress, where Xi is expected to secure a precedent-breaking third term. Amid a continuing crackdown on what’s been broadly branded as corruption, party officials known as “tigers” are jockeying for promotion while hoping to retain power—and avoid getting locked up. General Electric will split into three separate companies, a stunning breakup of the iconic manufacturer founded by Thomas Edison that was once the world’s most valuable company. Its shares surged. Mashreqbank, Dubai’s third-biggest bank, will pay $100 million to settle allegations that it violated U.S. sanctions by illegally processing more than $4 billion of payments tied to Sudan. People who are fully vaccinated are 16 times less likely to end up in intensive care units or die from Covid-19 than those who aren’t immunized, an Australian government study found. And for those who survive the virus, the potential consequences of “long Covid” can be terrible. In the U.S., the decline in new infections from their peak during the fifth, delta variant-fueled wave has ominously stopped. Now close to 70,000 cases a day, the rate is still more than double the worst of the first wave. More than 1,000 Americans are dying each day. Globally, infections are actually rising again, at about 370,000 confirmed cases per day, and more than 6,000 deaths. Here’s the latest on the pandemic.  The number of Covid-19 related deaths in Romania, a new epicenter of the virus, has exceeded 50,000, including 483 fatalities reported on Friday alone. Above, a medical worker treats patients at Bucharest's University Emergency Hospital on Nov. 4. Photographer: Xinhua News Agency Every day in the early afternoon, money-market traders are glued to the Federal Reserve Bank of New York’s website to see the results of the overnight reverse-repurchase agreement facility. But they’re no longer the only ones. While there’s no way for most everyday traders to use the facility, its results are now appearing on Reddit, and influencing trading. The biggest signal yet that Fed Governor Lael Brainard is a major contender to replace Jerome Powell as Fed chair came just yesterday. Since then, it’s triggered a wave of speculation over how financial markets would react if President Joe Biden announced her as his nominee. This is how Wall Street reacted. Endless demand to protect portfolios from rising prices is fueling an indiscriminate boom in one corner of the $7.2 trillion U.S. exchange-traded fund market: Every single ETF with the word “inflation” in it. Just in case you thought the supply chain crisis would turn the corner in time for the holidays, think again. Record numbers of cargo ships are still anchored off Southern California (and elsewhere), filled to the brim. But there’s another component to the crisis. Warehouses have been pushed to capacity, forcing logistics managers to scramble and making already scarce space even more valuable. Meanwhile, Biden just called the CEOs of Walmart, UPS, FedEx and Target to discuss the growing shipping calamity.  Warehouses and logistics facilities in Rancho Cucamonga, California Photographer: David McNew/The New York Times//Redux Like getting the Evening Briefing? Subscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and gain expert analysis from exclusive subscriber-only newsletters. Watch the Bloomberg New Economy Forum live from Singapore Nov. 17-19. At a moment of unprecedented crisis, world leaders are convening to define the challenges that face the global economy and to draft solutions together. Learn more about this year’s agenda and speakers. | 
