Africa faces its worst drought in decades. Now we begin in saudi arabia where 2 of the most high profile members of the royal family have been detained they offer him a crown Prince Mohammed bin nayef and prince ahmed bin. The younger brother of the saudi king now according to the wall street journal they have been arrested for processing against king sound and crown Prince Mohammed bin reports suggest they have been accused of treason and could face life imprisonment or the Death Penalty both could have rivaled crown Prince Mohammed bin salman for the throne when king solomon dies saudi gods have also arrested one of mohammed bin nayef brothers well al jazeera Senior Correspondent alex planes just what these detentions mean for the kingdom and the impact on saudi politics. In terms of his significance its huge because were talking about true of the most senior members of the saudi royal family and true that up until now have not been seen as supporters of crown prince may have been so
The Global Supply chain factor. Early facebook investor Roger Mcnamee joins us for what the virus means longterm for Companies Like apple and tesla. Paul, dramatic day for the markets and elsewhere. Why are you following . Paul tuesday trading day in asia, i guess the question is, to far is this stone going think . A drop asoking for well, about 2. 5 . Nikkei futures, big hit, 4 . South korea had one of its worst days and 17 years on monday. Japan of course playing catchup because monday was a Public Holiday. Take a look at currencies. The aussie dollar hit the yard over the past 24 hours. Currently just hanging on above . 66. The aussie 10 year continuing to slump toward historic lows. Of red. Uyh a lot in the u. S. , stocks tumbled. Three benchmarks slumped. Good to Abigail Doolittle lets get to Abigail Doolittle in new york. Abigail the markets selling off in a big way. Here in the u. S. , a three day slide. This is the worst of those three days. Friday, the disappointing pmi number
Day. Thet issues and trade, ongoing battle between the u. S. And potential cyber warfare. Here in california. A lot of people commute. It is a feeling our colleagues in asia have been living with for weeks. How are markets opening up over there . Paul some unambiguous signals. New zealand has been open for an 2. 5 , aready off by move down of similar magnitude for futures in australia. 4. 5 , theures are off kospi weaker as well. We continue to see strength in the japanese yen. A lot of data coming out of japan today, retail sales, tokyo cpi, both of those contracting, even before the coronavirus outbreak. Take a look at the yields, big move down. Of at a fresh record low. 83. Global stocks plunging to fourmonth lows, u. S. Equities falling the most since august 2011 as anxiety over the coronavirus deepens. Lets get to Abigail Doolittle in new york. A lot of red. And id be on the close. Averages all down more than 4 , there was a rebound rally attempt. Turned briefly higher, but that i
Reports bloomberg has seen. Nonetheless we have a virus which continues to spread. In iran we have 19 deaths. The first case in latin america that,zil on top of greece, bahrain, and kuwait adding to numbers they have already. The Disease Control of the European Commission battening down the hatches as in italy we see the death toll mount and the number of cases multiply. In britain we have an isolation facility being set up at Londons Heathrow airport. This is in the backdrop of an overseas expansion. I mean outside of china. In china itself, the spread seems to be getting slower. Anomaly, 400is an one new cases in the last 24 401 ins opposed to the province. There are economic consequences. David lets talk about the economic consequences. We always want to remember this is a human tragedy, but it has economic and business consequences. They come in two different forms. Ies shutting down of factor and the effect on consumer confidence, the willingness to spend money. Rishaad we were ta
Protests take their toll. Shery china continues to push the liberalized market with a more flexible loan. Japan and south korea have come online. Lets get straight market action. Offie the nikkei 225 is. 3 . Best court of the again since 2016. Asian stocks are drifting toward the year end. We are digesting the latest figures. We are going to be getting hong kong trade numbers. Taking a look at was going on in sydney. We are seeing shares snap a threeyear game. Paul lets get you uptodate with the first word news. Wildfires in australia are expected to get worse this year week amid rising temperatures. 122 millions of million acres of land have burned. Nine People Killed and over 950 homes destroyed. Scott morrison says that firefighters battling the fires in New South Wales will be compensated. This is putting additional demands on our firefighters in particular. It means the turnouts and the callouts have been far more extensive than in previous years. This is beyond and above what is