Manuel Balce Ceneta / AP

How it happened: Trump's election was predated by months in which analysts feared his threats of trade wars and generally unpredictable behavior would cause the stock market to crater. Soros adopted this view, according to the Wall Street Journal, making bets that the stock market would decline in value immediately following the election.

But the S&P 500 has risen more than 6% since the election, costing him dearly. Investors who didn't get burned include Trump supporter Carl Icahn, who bought nearly $1 billion worth of stocks on the night of Trump's election, as well as Soros protege Stanley Druckenmiller.

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Updated 4 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 13,177,855 — Total deaths: 574,793 — Total recoveries — 7,303,490Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 3,397,069 — Total deaths: 136,117 — Total recoveries: 1,031,939 — Total tested: 41,004,275Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Trump deflects on why Black people are killed by police: "And so are white people"

Asked by CBS News' Catherine Herridge on Tuesday why Black Americans are still dying at the hands of police, President Trump responded: "And so are white people. So are white people. What a terrible question to ask."

Why it matters: A 2018 study found that Black men are about 3.5 times more likely to be killed by law enforcement than their white counterparts.

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Behind the gun sales spike

Gun sales in America have surged since the coronavirus pandemic began, with 7.8 million background checks run for firearm purchases between March and June.

Axios Re:Cap digs into what's driving the sales, around 40% of which are by first-time buyers, with Wall Street Journal reporter Zusha Elinson.