Race against time. They are peers and rivals with one daring goals to help smart nature. The more likes watching it. On youtube, dw documentary, the, the weaker chinese economy could drag down growth in parts of the world. A new report from a global lender is the latest warning that the economy is looking for a covering. Well need to reckon with china. Also on our show qual waste a silent on the details of its new phone and the power of the processing ship behind it. Hello and welcome to our show. So you can barely in berlin, and we begin with china is struggling Property Market and the risk it poses 2 economies around the world. A new report by the European Bank for reconstruction and development, suggesting that economies from europe to asia, the region in which the bank is active, could see a slow down due to china. The bank is forecasting a return to higher Economic Growth in 2024. In the region, following the current period of High Energy Prices and inflation, a china is construct
S, european and american exports to russia dropped dramatically after the war started. China has stepped in and increased its sales to russia. In particular, it is replacing some of the products that are subjects to europeans function or to come back to that in just a moment. But when i go back to china and as the property crisis that weve been seeing for more than a year, now, what does it mean for this region as well . The question everybody is asking is whether this property crisis will translate into lower growth structurally. So are we going to see Slower Growth in china in the are still come and did. Thats the case. That means lower demand for commodities exported by Central Asian countries. But also it will have impact on all other economies through the chinese demand for, for oil, which translates into higher or lower. Oh, process. Your report also notes. Thats more countries are importing goods from china in the chinese currency the when, why is that significant . So in our st
Power lunch starts right now good day, everybody. Welcome to power lunch. Im Tyler Mathisen as michelle just highlighted, the dow and s p 500 hitting records again. But we are well off those levels at this hour nasdaq basically getting slammed. Down more than 1 . Big selloff in tech. Check out what is leading that nasdaq 100 lower Lamb Research down so auto disk down 15 now applied materials, invidia also in the tank today. In fact, the whole Semi Conductor industry on pace for its worst day in almost a year more on this group coming up forget ten, folks. Lets move on to 11,000. Bitcoin breaking past 11,000 just hours after topping 10,000 for the first time ever. Everybody is talking about bitcoin. Crypto currency up more than 30 in the past week and now up well over 1,000 this year, brian. Its like an auction. Do i hear 12,000 im Brian Sullivan heres what else is happening at this hour. Tyler drilled down on bitcoins record run the nasdaq planning to launch Bitcoin Futures next year.
Most in a closing basis rates the s p 500 and its at a record. You will see if it remains. It is a broadbased rally. Look at the bloomberg. We have all the groups here. Financials are getting the most, along with technology, materials, and energies doctrine of the groups in the s p 500 are higher here. Financials and technology are bouncing back as we see gains in yields. In particular, because losses associated with the storm will not be as steep as has been predicted. You have insurers all higher. T says it sees losses that is net. The company says it has a strong surplus level and a Strong Capital position here. We gote of the estimates those downgraded. Overall, the losses e stimated 49 billion instead of 200 billion is estimated previously. Friday heading into the storm, we were already seeing the prices of these cap bonds drop. Cat bonds drop. Using the prices go higher. Update on today, there is a day lag. But this shows you the trends. What is i mentioned going on in the bond m
Griffeth today General Electric and apple, ge rallying after the ceo announced hes leaving whether the new ceo get gets the stock moving, and apple downgraded i think the song is offsync we are going to be joined by dan fuss whether the selloff is a signal to the bond market. He joins us in minutes to dig into whats happening over there. Lets start with a nasdaq extending losses today, and joiningous closing bell exchange, we have kim forest, senior analyst, and steven, over at post nine, daily contributor, and our own Rick Santelli at the cme. Thank you, everyone. Sarch, sta sarge, you, bike tech, rotation to it. Industrials and energy picked up time to worry when the leaders are hit like this, or is this something healthy . No. I think its healthy its wheres the money going to come from i mean, obviously financials are in play this week. Youll have all three majors, four major banks, three this week, and so currencies move around yields move around, they move into energy because oil