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Congrats to the governments of Egypt, Turkey, Pakistan and Lebanon for relying more than 75% of their wheat imports to two countries!

Apple, Amazon, Microsoft and the parent companies of Facebook and Google have lost more than $2.7 trillion in value so far this year — about the annual GDP of Britain. Still, they are positioned to emerge from a downturn stronger and more powerful. https://nyti.ms/3yPwqFl

Turkey’s gross foreign-currency reserves fell the most this year, providing further evidence that an effort to support the lira is coming at an increasingly steep cost https://trib.al/6Fcsd9L

Two strongmen leaders are hindering Europe’s efforts to stand up to Vladimir Putin. President Recep Tayyip Erdogan of Turkey is blocking the NATO applications of Sweden and Finland, and Prime Minister Viktor Orban of Hungary is blocking an EU embargo. https://nyti.ms/3wtZbG4

Unusual clusters of monkeypox infection have turned up in Europe and Canada. On Wednesday, health officials reported a case in Massachusetts. https://nyti.ms/3MvMrV9

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