Situational awareness: The Dow plunged by more than 300 points today, following news that President Trump plans to further crack down on Chinese investment in major U.S. tech companies by blocking additional technology exports to Beijing.
- Shares had been down more than 500 points before Trump trade advisor Peter Navarro told CNBC no further crackdowns are planned and that the market was overreacting.
1 big thing: Restaurant wars in Trump's America
Put aside the policy fights for a moment: The debate over whether Trump administration officials deserve to peacefully eat a meal in public tells us a lot about Democratic politics in 2018.
Why it matters: Public shaming and incivility isn't just a nasty expression of outrage. It's targeted at making life difficult, and even serving as a deterrent, for public servants who carry out controversial agendas, writes Brian Beutler, editor of the Pod Save America website.
- On one side: Centrists and establishment Democrats, driven by respect for norms and a belief that public service deserves respect and civility.
- On the other: The rising tide of young Democrats and the Resistance, driven by a belief that Republicans aren't interested in civility or compromise.
The big picture: The pro-civility crowd is dominating the airwaves and establishment media. The verdict is less obvious on social media.
What they're saying:
- Maxine Waters: “If you see anybody from that cabinet in a restaurant, in department store, at a gasoline station, you get out and you create a crowd … tell them they’re not welcome anymore, anywhere!”
- Nancy Pelosi: Called Waters' response "predictable but unacceptable."
- Cory Booker: “We’ve got to get to a point in our country where we can talk to each other... some of those tactics that people are advocating for, to me, don’t reflect that spirit.”
- Arne Duncan: "No matter how much we dislike or disagree with someone, we should not deny them the chance to have a meal."
- David Axelrod: "Rousting Cabinet members from restaurants is an empty and, ultimately, counter-productive gesture that won’t change a thing."
P.S. Speaking of incivility: President Trump tweeted today that "Waters, an extraordinarily low IQ person... has just called for harm to supporters, of which there are many, of the Make America Great Again movement. Be careful what you wish for Max!"
2. What you missed
- Supreme Court update: The court mostly upheld Texas redistricting maps that had been thrown out for reducing black and Hispanic voters’ political clout.
- Trade war fallout: Harley-Davidson is set to move some of its motorcycle production out of the United States as a result of President Trump's burgeoning trade war with the European Union, reports Bloomberg.
- Trump polling: A majority of Americans approve of President Trump's handling of the economy for the first time, according to a CNBC survey. By the numbers.
- What we're thinking: The most important voter in the 2018 election, the new Soccer Moms, will be #NeverHillary Independents — and they're key to Democrats for taking back the House. Go deeper.
- China barks back: Its deputy head of narcotics control says the U.S. should look at domestic factors for its opioid crisis instead of blaming China. Go deeper.
- Bonus reality check: What Trump gets wrong about MS-13. Go deeper.
3. 1 luxurious thing
The $185 wagyu sandwich you never thought you needed (and probably still don't) is about to arrive, Bloomberg's Kate Krader reports.
- "Don Wagyu, the first restaurant in New York devoted solely to Wagyu beef sandwiches... opens on June 27..."
- "The cheapest [sandwich], made from a hybrid of Japanese and American cows, Washugyu, will cost about $25. On the other end of the spectrum is the A5 Ozaki, all sourced from a single farm in Japan. That sandwich will cost around $185."
- "Luxury doesn’t necessarily have to mean a three-hour meal. Sometimes it can mean just having some of the best, rarest beef in the world.”