spell words, treatment, rooms and operating theatres, but for general healing and wellness too. when you walk into this building, it doesn't appear like a hospital. it blends in so well with the local landscape and topography. there's a sense of belonging to the nature. if we don't take care of our nature of our environment, in all aspects and in every corner of our planet, we will not be able to save our home, which is this beautiful, beautiful place that we have. the judges praise the architects for put in care and humanity. at the heart of the design, tundra chaudhry al jazeera shop, kara bangladesh. ah, it is help us the are. these are the top stories north korea has conducted its 7th missile test this month. south korea's governments is an intermediate range ballistic missile was launched. this time appears to be the most powerful 15. since

you as president joe biden took office, the biggest storms to hit the eastern united states in decades is hitting 10 states with heavy snow. strong winds and bitterly cold temperatures, at least a $120000.00 homes without electricity and more outages are expected. more from embassies, crisp alone in boston. we have endured about 18 hours of heavy snow and heavy wind here in the city of boston. and thankfully, over the past hour or so, the snow has started to taper off a little. i know it probably doesn't look like it. but there were times today where the snow was falling at somewhere around, you know, about $5.00 to $10.00 centimeters per hour, which is it incredibly high clip. when you add that in to the winds, that were gusting at more than 80 kilometers per hour. it was a very, very nasty stored throughout the day here. thousands of rallied in canada's capital

against corona virus restrictions demonstrated joined a convoy of truckers around parliament. and also it was organized to protest against rules requiring dr. is crossing into the us to be vacuous. military court and democratic republic of congo is sentence 49 former soldiers to death for they pass the killing of to you and investigate his 5 years ago that account alon and michael sharp were murdered, while investigating atrocities in the castle region and the west african block he was held talks with the keenest also military rulers, un officials are expected to join the discussions on monday. the day after the country was suspended from equal loss rebels soldiers on monday. with that you're up to date with the headlines counting. the cost is next. ah, ah

ah ah ah, i i'm money inside. this is counting the cost on al jazeera, your weekly look at the world of business. i'm economics. this week, stalks have got off to the west stock since 2016 with tech sector and crypto currencies most affected critics. a u. s. markets are in a bubble that could bust any time, but are they and how would this affect the global economy? also this week global 3 prizes hit their highest levels in over

a decade and families are forced to scrimp at the dinner table. will governments be able to bring down the rising cost of basic items? and as opec re opens, a tops african supplies are struggling to pump more cabinet jury as long awaited reform of its oil sex. a help the country catch up. we find out from the countries petroleum minister, ah, investing in financial markets is like a roller coaster on your never quite the same off to the right. a wise man said it often feels like that now even more so. last year, stalks hit high off to high despite the pandemic, but now in the face of rising inflation on a global supply chain crisis, the foss running bull market has suffered a wave of while trading and some fare. it's now entering into bear territory. let's take a look at the numbers. you are stalks have suffered the worst days since march of

2020, dragging down all the major indices, the s and p 500, which is a proxy for u. s. retirement and college savings accounts will that has fallen more than 10 percent below it's january 3rd record closed back in 2020 the tech heavy. nasdaq on the performed major benchmarks. it fell further into a corruption in the 1st weeks of january, sinking more than 16 percent from its own record high of november 19th last year. european traders are also nervous. the stalks europe $600.00 regional share index, close 3.8 percent lower on january 24th. it's biggest, one day for since june of 2020, an asian markets racked up some losses to that's included to pounds benchmark nick a south korea's cosby and china shine. guy composite. some industries have since come all fellows, but trading remains volatile. so what does this all mean, and what does it tell us about investors sentiment?

obviously, technology has been the worst performing sector that's after a boom period during the pandemic. among the casualties are some of the most popular companies like tesla, netflix, microsoft, and amazon. the s and peace best performing sectors in the early days of the year have been energy financial services and consumers, staples away from the stock market. risky assets are also being dumped. bitcoin recently dropped more than 8 percent wiping out nearly half of the value of the record high, reached in november. we're part of the bull run market has a lot to do with fed policies and the flood of easy money during the pandemic. but that's changing now. sentiment and company earnings play a key role to invest a confidence. but there are other factors to be added to the mix among them jr. political tensions. so taking all these factors into consideration, there's lot going on. i am to unpack all of that. i'm joined now by 9 o'clock,

who's a chief market analyst at a trade many. thanks for joining the program. what do you think's been driving the volatility markets this year? thanks for having me. i think there are a number of factors which traders are considering when they want, when they're thinking of backing race gear assets. firstly, obviously, if the general storms among central banks are vitally close to control inflation. now, because these banks, they're wanting to tackle inflation, the only way to do that is reversed the monetary policy that the put in place to bought off the challenges opposed by corporate 19. so basically we are looking at a landscape which is going to give us something out there as a highly of a hawkish monetary policy. so basically, an in wide made of higher interest rate now traded that k with the fact that yes, we will have a higher interest rate. but them major club is they do not want to see or will be

or excessive hawkish monetary policy. because that could really hurt or killed economic growth that we have seen over the last number of quarters. and the fact that you are talking about do they will apply to the asian markets because we've seen falls that to. but over in the asian markets, of course, the chief concern is on the con, supply chain issues. and if you look at the p, b, or c, p. c had this slightly difference at different stance in relation to the bank of england, bank of canada, the federal reserve, the e. c, b, b are still lowering the criteria for landing for, for bearings. so we do, we still have a more soda from easy monetary policy with respect to the p d. c, because they still, they still want to, to be used to the normal activity. of course, of the central banks wants to do that as well. but inflation is it achieve for

a primary concern for the p b or c, supply chain issues. and rising energy prices are major concern. ok, when you look at how to hi stocks have actually gone in the long run over a period of time. the recent force don't seem so much the oldest tool, griff, a bad market. all we over egging the issue. well, by definition, bond market is when market retrace is 10 percent from its recent high. so if you look at the us indices, the answer key, the down, the nurse sag. in fact the nasdaq is down more than 10 percent from easter eastern high. so yes, we are in a bad market in that respect. but if you look at the markets, quite fashion for the last number of days, we didn't we, we pulled back some of those losses. but today, traders are still very much trying to digest the new message which came out from the front, the reserve, and bit of a surprise in that particular messages that he has. now,

the federal reserve is not only going to increase interest rate. and let me say that actually this is going to been aggressive interest rate high, but they're also going to shrink the balance sheet. and that is a once again as triggered that risk off trade and possibly pushing the markets further deep in the bare territory. what about talk of a stock market bubble that's about to bust? well, like validations are racial especially when we go in the tech space space. hence, we are seeing more intensive sol off for the nasdaq index income presented to the s and p 500 index, which it represents the overall sentiment among the market. because after all, you're talking about the top $500.00 companies or even the dow jones industrial average, the top 30 industrial stocks over the years. if you compare the 3 different indices, you do see more sell off in the tech,

and that's primarily because of evaluations. being too rich, you talked about inflation being a big issue and the worry of interest rates going up in the u. s. and elsewhere explained was why high interest rates impacts stock market, particularly technology stocks, which you've been referring to. primarily because the input cost is too high and that's which is your margin, your profit margin, and especially for the tech sector. given the fact that we have already seen quite a number of issues with the supply chain and still some factors are close. deliveries are not, we don't know, may look at the recent full costs from tesla which came out last night. they still very much indicating to supply chain issues, record profit, but still warnings on supply chain issues. and when you joined that with a higher energy prices, which are very much feeding into the manufacturing,

then the issue becomes a lot more apparent. and then why these companies are really getting sold. if you are a long term investor in the stock market, how worried should you be if, if invest was asking you advise, what would you be saying to them? first of all, we don't really give advice. you have to match your own risk profile according to what your goals up. but the general comment tase. yes, i concur with the the mark is do pull back. there's a losses and we do see hire high, high lose the deck to meet the very definition of trend that given the fact that we have seen a very decent salad and the technical, they indicate that markets are certainly oversold. this is a perfect time for one to prepare the shopping list and start buying as the market is still going down. because over the next week or 2, we are still going to get

a lot of earnings or in the united space. that means higher volatility in the stock market, and that is going to bring more opportunities. so big names, big tech names because pack has always been the sector which kind of right out of this particular st on fast as it comes out of their store to faster than any in a sector. so again, keep an eye on, on, on these particular sectors. one example is look at netflix analyst. they were expecting and number which was completely bulky. but if you look at the fundamentals of the company from netflix, they are not only going into entertainment, but now they're also leaping into the gaming industry. the fundamentals are strong, the stock is down more than 30 percent year to date. the future is still very much seems to be very optimistic for netflix. that is a great opportunity. same goes for test last same for neil or reagan, the new upcoming companies within the electric vehicle space. i think that is the

opportunity where investors should be very much looking at or even in europe if you're talking about how about walks morgan. because we're that the in europe now, especially in london, you out of every $10.00 cost $6.00 cars, a hybrid. that is the trend where you want to really bank, really interesting to get your perspective name offline chief market. i'm list ever train your own me around the world. inflation is by seeing and where it hurts most fear prices his a 10 year high last year. and that's put up the cost of the weekly shop for families at every supermarket and grocery store. meat and fruits have become luxury items and families are being forced to make tough decisions about their diets. and the costs isn't expected to fall any time soon if anything is going to increase further. but perhaps at a more moderate pace, the international monetary fund estimates rises the for around 4 and

a half percent this year. united nation says world food prices jumped 28 percent in 2021 before easing slightly in december. the food and agriculture organization says it's vegetable oil. price index reached an all time high, increasing 65.8 percent from 2020. meanwhile, the serial price index reached its highest annual level since 2012 rising 27.2 percent. but the biggest gainers were mayes up 44 percent on wheat. gaining just over 31 percent. the sugar price index rose 29.8 percent reaching its highest level since 2016. the dairy price index averaged 16.9 percent higher than in 2020 the meat price index was broadly stable in december, but rose 12.7 percent through the year as

a whole. well they f a o says soaring speed prices, a hissing low income household hard and poor populations. and countries that are reliant on imports are particularly at risk. it's feed that the high cost of food could fuel on rest. in some parts of the world, like middle east and north africa. and that growing concerns about hunger crisis in countries affected by conflict and drought on top of the rising cost of living. when it all appears to be bleak, let's get more into the global food situation now with maxima, total color, the chief economist, assistant director general of the economic and social development department at the un food and agriculture organization. he joins us from rome. thank you for your time. why are we seeing the sustained rise in feed prices? there are several reasons. the 1st one is a significant demand. the strong demand by large with the importers, and the year 2021. so a strong international demand, particularly by large emerging economy. at the same time,

we have been observing significant increase in transportation costs, particularly for container shipments. the 3rd cause of this is a high price, as far as the control inputs are not 30 license, which is something that is happening in the last month. and these are linkage between the energy sector and the fertilizer sector. as a presence of energy go up. if the lights are, prices will also go up before the reason is linked to energy prices and oil prices, which they increase the greater demand for biofuels. and the input for biofuels guns from staple commodities. and it's also being used for i'm finally on his truck . i reason is adverse weather and we have seen i'm far what i will weather in the last month, which have affected some key producing countries. and these includes that means whether phenomena which went on i was 2022 percent 21. so there are all these drivers that are behind the prices that we are observing to the okay, we'll talk about the weather impact in a minute. first, let's talk about energy prices in fertilizer prices,

which are high and continue to remain high. what is this going to mean going forward for fee price as we continue to see the impact on production as a result? different license prices cost reason, substantially, and higher during the last a big deal of 22008. and these higher for the laser prices in turn reflecting higher energy gas prices and export restrictions, and your political pensions with the high up prices and also the problems of what ability to them. so for sure, as the prices of energy we go up, what we knowing historical relationships is that the for the lights are prices will also stop increase and go deeper. and it will become even worse. if we have a, it's export restrictions, which some countries are starting to put in place. so this is pretty worrisome because what it means is that they put as regions won't be able to access it because of the cars would be higher. and i thought of that that could be affecting their blunting and could be affecting the harvest a for the following. you tell us

a bit more about climate change and how it's impacted fee prices in different parts of the world. what we need to do to understand that in terms of, of what happens of climate is needs to we need to be clear from dell, said that when we talk about changes over the past few months, we mean time about abby or extreme weather events. not it's low onset climate change, and these extreme weather events do indeed become more frequent and i get really also more c b if you didn't. the one up here i can see son was the 3rd most active on record and you can such as either what taking a heavy toll on crop production. they also destroyed transportation and processing infrastructure, which is extreme events becoming more frequent. drop deals are expected to become more viable. i'm probably will i be? well, at least the, of course will be a consequence of this. but we need to understand that farmers and direct sector used to go with this extreme weather events in the chart. and now if we move now to climate change, which is low onset, potentially possibly food,

very small increasing temperature, particularly in higher latitudes. so for example, temperatures increases up already the black sea drain suppliers like russia and ukraine, and racing drains and always it's production. these likely to continue as long as these temperatures increase undermine contain, by contrast, potentially very negative effects. in the mean region, what a precipitation is likely to be sufficient to produce enough food to staples such as barely or wheat. and similarly, subsaharan, africa may yield school decline by over 30 percent means on africa. by 2013, i mean south asia, we can see over 10 percent lower deals of mains. right? i mean it so the facts will be at the us among the different units of the work. but one thing for sure that these long trained increase in temperature or increasing extreme events in the long term, as i mentioned before, will be that we will also have more uncertainty in direct sector. and more about the more and that, that, that more uncertainty is something that we need to prepare. and we need to increase

resilience of congress to be able to prepare to these potential changes in the long term because of climate change. so what is the solution? so one way to do that is for example, the 2 great mechanisms of insurance which will have control to go better. we have been seen significant innovation in the, in the, in the weather insurance sector for every culture. but it still is far from way to be developed. country subsidized substantially entrance entrance, but developing countries don't have those resources. so there we need to develop market oriented solutions. i'm for that we need see if we can information on whether on whether it trains so that the range runs. companies can estimate better the loss function and can produce a service of insurance index or not the index that could great be provided at a lower cost for these economies to be able to afford. that's one way. the 2nd way is to work with science and technology and try to innovate and try to figure out how we can better management met their manage, the water. so that in situations of lack of what their orientations of excess of

what their nice countries can go better in the middle and long term with this potential potential changes. and the 3rd element is trying to better know what would be the significant changes that will be expected in the future. so the farmers can be ready to be able to change what they produce and how they produce to be able to cope with these in the longer term. maxima, cullen, many, thanks for your time and your expertise. chief economist, assistant director general of the economic and social development department, the un food and agriculture organization. thank you. thank you. and oil prices are rising to reaching a 7 year high at more than $88.00 a barrel. that's another reason for storing inflation. major oil producing countries of promise to increase production shortfalls. in countries such as nigeria raise questions about whether apple increases can be enough to satisfy demand. now nigeria is africa leading will produce,

but the sex continues to struggle with many challenges. and as recently introduced a long awaited reform, the petroleum industry act to try and boost the sector. it's also planned to lift fuel subsidies, which costs the country up to $7000000000.00 a year in revenue before the moment that's been put on hold. so what change could the new legislation bring to the country? come all sounds, maria, off the nigerian minutes to petroleum. to me pray silver. this other questions earlier? that's really the call of what you expect to lead to the passage of the b i a last year marks for us. it new or rising. believe that day it's going to drive a lot of development in the sector. but in addition to that, me a lot from the why do you find areas right now in the country and rehabilitation, i would believe that a lot of movement will actually on production,

we know that you're not going to find out. it will be delivered this year, but at least we are hoping to find out especially will be delivered. so also a question had the k k plan project is also on the ongoing projects that we're going to win to contribute to growth in be in district. this year, so it's actually the regions with optimism. it's all very good for the sector clearly and there's going to be a lot of investment in the sector. i think what people certainly nigeria wants to know is will they see the effects? will the economy benefit? will it trickle down, putting the pricing to the every day nigerian person what we expect that you will always get the people, i mean, the president, it's all about the people of niger. yeah. and that's why, you know, for example,

when the issues around deregulation, actually for the present, just quite slow to doing it because it's true that negatively. the hope is that when a lot of these investments are much jim, it will be production to the people and also have to ease the price of the 9 jury where we also expect that overall, if you're going to put the economy group, for example, if we were to produce a lot of petroleum products from nigeria. we believe that is going to be able to bring down the price of what you call me on my generally it's all about the people really. right. and that's important because as i understand it, nigeria actually wants to stop scrapping or scaling back fuel subsidies. not any country where i have seen that happen. there has been some sort of pushback and it's even developed into, into further anger against the government. is it, is it

a risk during that as well? yes, we'll bear with me let discussion with day livable unions are we're spec backed up push box. usually that's where we're making it very great. well, we are also expecting to give an alternative we're looking at was a blue shield given i are not punitive to the people. for example, if they're missed prices go, we believe that if we have to do some other fuel level, which is auto gosh, which are the people can afford, it will help do is the baby boredom of the people. i know. so we also know that they learn results in significant increase in their, in personally expanded. so i mean, without people who were also looking at some palliative measures to take all that just to ensure dr. b, for the people to minimize as much as possible minister the wider nigerian economy

. i want to ask you about that because we are talking a lot at the moment about inflation. it's been recognized as a problem. as a lot of places the united states are turkey has been talking about it as well. i see inflation hit 18 percent in march last year. food inflation in nigeria, 23 percent as well. that's not good news. and i wonder what nigeria is doing to, to, to manage the situation. nigeria is doing everything for granted to ensure that go would be down there. inflation, the inflation drive us with know that especially in the district or i be shocked by offer a better loan product. i, one of the divers or the energy crisis on the rise of their products, is it drive off inflation as well? and that's why in the sector we'll try to as should get down ah, be the price of oh, of products are, but you know, productively people while ensuring that it is full, we are fully supplied. ah,

that's what we're doing for now. we're sure that we will to oh, in felicia, under control. and i said, well, we really appreciate your time today. thank you for joining us and alters here. thank you. and that is our shows this week, but i want to know what you think and what you want to see on the shy tweets or d n me at mullins side on if you're tweeting them, please use the hash psych a j. ccc, or if emails, moyer thing counting the costs out there at dot net east address. but there's more for you online, al jazeera dot com slash ctc, that will take you straight to our page, which has individual reports, links am and time episode speed to catch up. that is it for this edition accounting, the cost i moline site from the whole team. thanks for joining us. denise. on out, as eric is next, ah,

in a series of original documentaries algebra correspondence, explore the stories which had marked their lives and careers. gab unit is on the covered, the tragic story of 2 reinforced activists, brutally killed fighting the devastation brought about by loggers and ranchers. returning to the amazon, gabriel learns how their campaign for sustainable development brought them on a collision course. with those sought to profit from the forest destruction audio correspondence dictatorships to democracies, activists to corporations, control of the message is crucial. oil companies have become very good at recognizing ways to phrase what they want you to hear. we care about the environment, you do to usually buy our oil cleared for public opinion or profit. once you make people afraid, you can use that to justify stripping away basic civil liberties. the listening post examined the vested interest behind the content you consume on al jazeera.

ah, a 7th miss. i'll launch in just one month. north korea ramps up it's testing activities, the wide range of weapons. ah, i'm come all santa maria here and don't ha, this is the world news from al jazeera. here is a severe snow storm battering the east coast of the united states. right now, it's lift tens of thousands of people without other tricity. also thousands of canadians joined truckers rallying against vaccine mandates to cross into the you.