“Volatility” is the word of the day. It’s spreading everywhere as the U.S.-China trade war transforms into a currency war. U.S. stocks clawed back some of their losses from Monday’s bloody session after China moved to stabilize the yuan, fueling hopes that cooler heads will prevail. —Josh Petri

Here are today’s top stories

Wall Street optimists have one question on their minds amid the trade-war induced stock slump: when to buy the dip.

National Rifle Association lobbyists have traditionally had their way with the Trump administration when it comes to stymieing gun control legislation in the wake of mass shootings. This time may be different.

Some Republicans are worried their reflexive opposition to new firearm laws is making the party toxic to voters who will decide the 2020 election.

Remember the electric truck maker championed by President Donald Trump that took over a shuttered GM plant in Ohio? Last quarter, it made just $70 a day.

There’s no good argument against using a private email server. Except for the fact that Google makes it hard.

Jeffrey Epstein never stopped trying to build his fortune even after his 2008 arrest. Those who did business with him are now worried about their own reputations.

What’s Joe Weisenthal thinking about? The Bloomberg news director believes markets don’t really want to see the Fed make modest rate cuts, as it did last week. Investors really want to see a change in the central bank’s overall posture. They’ll have another chance in September.

What you’ll need to know tomorrow

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What you’ll want to read in Businessweek

Android Powered the Smartphone Revolution

Steve Jobs once tried to sue Android—the free Google software that manufacturers were using to make all kinds of look-alike iPhones—out of existence. “I’m going to destroy Android,” Jobs proclaimed. He failed, and as a result, the smartphone has become a new branch of technological evolution—the driving force that’s bringing the rest of the world online.

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