Your Evening Briefing: Elon Musk Is Suddenly Having a Very Bad Week

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.

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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.