Deepened supply chains are starting to falter and tourists are staying at home as the Business Community struggles to predict the coronaviruses economic fallout observers warn the virus could be the final blow that throws the World Economy into recession. Markets around the world a sinking fast its the worst week in a decade for global stocks and investors in hong kong and the only ones seeking safer territory. In the u. S. Traders could only watch on as the dow jones suffered its worst single day drop in history on thursday as the corona virus continues to infect more and more countries so does its negative impact on economies around the world this is milan in northern italy normally busy tourist hot spots are deserted and restaurants are empty. The International Monetary fund says its still getting to grips with how deep the Global Effect will be the virus is going to have an impact on growth. A lot just depends on. The speed of recovery in in china and in other countries the spillov
Imposed borders in many places closed on large scale events such as football matches consoles amid all the uncertainty those who count to staying at home leaving streets eerily deserted others despite warnings of stockpiling so until the point we ask coronavirus is it out of control. Well welcome in worrying times too to the point here at the w in with me in the studio to discuss our Global Crisis is a hollow son whos written extensively on the coronavirus for the berlin based daily devalued she says we dont have to worry about controlling our fear right now we have to worry about controlling the spread of this virus also with us is out on our drive was a correspondent for germanys net. Work but shes a specialist on german domestic politics and china a country she knows very well and already out of believes that 1st china needed help now china is helping others on the very warm welcome to 2 multi laming author and Senior Editor thats another leading berlin paper target spiegel husseins
Spending in france and switzerland neglect any of if january and twos, threes and fiveyears are measured in basis points the dow plummeting 3200 points in the week the worse since the crisis yesterday experienced the biggest oneday point drop ever, 1,109 points as we approach the end of the red february for stocks the dow is the weakest of the three major indices, down almost 9 monthtodate. Goldman again this morning, jim is saying they dont think this is over and that buying the dip is in their words riskier this time theres no doubt about it s theres a part of of the s p and its good to look at individual stocks here that are not buyable and if anything its involved with travel and leisure, autos, housing, because house something sl housing is slowing down and i dont thinkfed cut rates it would matter we do need to talk about something at the cooperman, and ive always talked about which is the algos are in charge i noticed this morning at 3 00, what am i doing up at 3 00 the bond Int
Dow than in any year since 2008. That is not just a week, that is in a whole year. Any year since 2008. That will give you some idea. The tenure yield dropped down. At 117ff of its low waiting for the fed to speak. The vix up to 45. We thought we were high yesterday at 33, we are much higher than that now. Crude Oil Continues to settle. We are just about 45 per barrel. Gold is also selling off today. Down 1. 3 . The stoxx 600, 372 which is down by 4. 5 . Continuing in the german tenyear. I want to show you what the gma looks like. Just to give you an idea of the magnitude of the selling that we have seen around the world over the last few days. This has been since monday morning to now. Greece, 20 . Netherlands, 14 . Yen is up by 3 . Do norwegian is up by 1. 65 . The Australian Dollar is down by 1. 5 . Year, a 45 basis point move this year alone this week alone. It is 100 chance according to the fed funds. Crude is up by 14 . Gas is down by 11 . The market is going crazy. This has been
Economy. And today is the final day of screenings at the 70th birthday and Film Festival data and as if and sculpt roxboro down on the red carpet. Bill and i will Close Associates 2020 competition with a pair of powerful political movie sparkle in documentary the radiated the rain in film there is no you thats coming up later in the show. Im Rebecca Ritters welcome to the Program Hundreds of refugees in turkey have begun moving to the countrys borders with the a year after turkish officials declared they will not be prevented from crossing into europe greece and while garia both members of the European Union say theyre stepping up the controls to prevent the migrants crossing turkeys decision to allow the migrants to lave came after 33. 00 turkish troops were killed in an airstrike by Syrian Government forces in the region of it live. Well for more lets bring in dayton new correspondent but ray get in brussels and dion jones in istanbul but id like to start with you weve been saying mi