Speaker Nancy Pelosi is scheduled to land in Taiwan today for a visit that the entire U.S. national security leadership advised her not to take.

Three developments overnight:

— Asia stocks tanked: “Stocks across Asia dropped on Tuesday morning, as investors prepared for a potential economic fallout” from Pelosi’s trip, per the FT.

— Chinese planes buzz median line: “China is ratcheting up military activity around Taiwan ahead of [Pelosi’s visit]. Several Chinese fighter jets flew close to the median line that divides the Taiwan Strait on Tuesday morning, according to a Taiwanese official briefed on the developments, in a reminder to Taipei that Beijing’s air force could reach the island in a matter of minutes. Military units across the People’s Liberation Army’s Southern Theatre Command, which is in charge of the South China Sea and some Taiwan-related missions, have entered a status of high alert, according to military officials in two neighbouring countries,” per the FT.

— U.S. Navy deploys four warships east of Taiwan: “‘While they are able to respond to any eventuality, these are normal, routine deployments,’ [a U.S. Naval] official said, who spoke on the condition of anonymity,” reports Reuters.

NYT’s Tom Friedman lays out an impassioned case against the trip: “Why Pelosi’s Visit to Taiwan Is Utterly Reckless.” His big argument, backed up with what seems like a significant scoop, is that Joe Biden has successfully restrained China from aiding Russia in its war with Ukraine, and Pelosi’s trip risks triggering confrontations with both countries:

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