Trump shrinks South Korea war games, citing ‘very good relationship’ with Kim Jong Un

Good morning. On Fortune’s radar today:

• Trump sides with Kim Jong Un on Pacific war exercises.
• Markets: buoyant.
• Amazon’s Prime Day is now so big it exerts a macroeconomic effect all on its own.
• The world’s chokepoints, ranked by risk.
• The increasing pace of tech layoffs.
• Selena Gomez, alleged venture-capital villain.

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This story was originally featured on Fortune.com