still to i think it's hopefully gonna just again really be one of the greatest demonstrations yet that these name changes can be successful. right. they can be done on the ann. so really it's it then turns the, the gays to your teams like the kansas city chiefs and in the atlanta braves and, and, you know, there's still many schools across the country that still have races, sports mascots to say why night, why not you are why not what you know, you need to be next the time is now. i think a lot of it has to do with how far technology has grown. you know, even in the past 5 years, the big thing about technology and things like social media is that it's given more of a platform to waste. as our historically silenced, the washington organization has been played with problems off the field involving racism. i'm a saw judy, i don't the field that has one the biggest prize, the super bowl in 30 years. the funds not to not merchandise here will be hoping the new name brings a change of fortune both on and off the field. our fisher al jazeera,

at the home of the washington commanders. ah, the headlines on al jazeera, the u. s. is deploying thousands of extra american troops to eastern europe. 2000 soldiers will had to poland and germany, and $1000.00 will be repositioned to romania. the pentagon says the move sent a strong signal to russia, which has been amassing troops on ukraine's border. the united arab emirates defense ministry says it's intercepted, 3 hostile drones that entered it, say a space early on wednesday, an armed group called i'll, we act wide. i'll hark, has claimed responsibility for what it describes as an attack on vital facilities in democratic republic of congo. attackers armed with guns and machetes, have killed 72 people in account for the internally displaced. the armed,

who've known as co deco is suspected to be behind the raid in the eastern province of a tory usina and has announced a 5 sage reopening of its borders from the end of this month. vaccinated new zealand is in australia will be the 1st allowed home, followed by citizens returning from the rest of the world in march. it will end old travel restrictions in october when it fully reopens. corona virus is killing americans at a far higher rate than people in other wealthy nations. that's according to an analysis by the new york times. the daily number of colored related deaths in the u . s. is at its highest level in almost a year. they to, from john hopkins university shows a 39 percent increase in the past 2 weeks to a daily average of more than 2400 fatalities. those are the headlines on al jazeera up next year, counting the costs, stay with us. informed opinion on the resource

by is not large enough to do their how to put me to our people in depth analysis of the days global headlines inside story on al jazeera, 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 worst dog 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 of 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 cat nigeria as long awaited reform of its oil sex or 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 after the ride, a wise man said it often feels like that now even more so. last year, stocks hit high after 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 out. 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 regional share index closed 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 consumer 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. or 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 in invest a confidence. but there are the 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 name osland, who's a chief market analyst at every trade. many thanks for joining the program. what do

you think's been driving the volatility markets this year? thanks for having me. i mean, there are a number of factors which traders are considering when they want when they're thinking of backing race, your assets. firstly, obviously if the general stands among central banks around the globe to control. ready inflation now because these banks, they're willing to tackle inflation. the only way to do that is to reverse the monetary policy that they put in place to bought the challenges opposed by corporate 19. so basically we are looking at a landscape which is going to give us something as a highly hawkish monetary policy. so basically an in wide made of higher interest rate. now traded 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 also 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 has a 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, b, c. because they're still, they still want to, to be used to the normal activity. of course, of the central bank wants to do that as well. but inflation is it achieved for a primary concern for the p

b. c. supply chain issues. and rising energy parts is our major concern. ok. when you look at how high stocks have actually gone in the long run over a period of time, the recent falls don't seem so much the oldest talk of a bad market. we over egging the issues. well, by definition a band market is when market retrace is 10 percent from its recent high. so if you look at the us thing to see the answer key the down, the non sag. in fact, the nasdaq is 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 really close back some of those losses. but today, traders are still very much trying to digest the new message which came out from the federal reserve and bit of a surprise in that particular messages that 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 leg violations are racial, especially when we go in the tech space space. hence, we are seeing more intensive sol off for the nasdaq index in comparison to the s and p 500 index, which it represents the overall sentiment and 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. so if you compare that 3 different indices, you do see more sell off in the tack, 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 that close deliveries are not of the we don't know me 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 tech companies are really getting sold?

if you are a long term investor in the stock market, how worried should you be if, if investor was asking you advice, what would you be saying to them? first of all, we don't really give advice and 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 high 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 at this time to faster than any other sector. so again, keep an eye on, on, on, on these particular sectors. one example is look at netflix analyst. they were expecting and number, which was completely bulky. 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 login. because we're, that the, in europe now, especially in london, you are 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 flam, chief market. i'm list ever train your very 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 of being forced to make tough decisions about their diets. and the cost 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 of 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 agricultural 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 fee that the high cost of food could fuel unrest in some parts of the world, like middle east and north africa. and the growing concerns about a 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 to 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, et cetera, raises 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 control inputs and not 30 license, which is something that is happening in the last months. and these are linkage between the energy sector and the for the lights of sector as a presence of any you go up there for the lighter price. it will also go up before 3 on is linked to energy prices and oil prices, which they increase the greater demand for biofuels. and the input for biofuels guns from a 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, let me know whether phenomena which went on i was 2022. i presented 21. so there are all these drivers that are behind the prices that we are observing today. 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 recent substantially, and higher during the last period of 22008. and these higher for the lights are prices in turn reflecting higher energy gas prices on export restrictions, and your political pensions with a high upward 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 the regions won't be able to access weed because of the cars would be higher. and i thought of that that could be affecting a planting 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. we need to, to, 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 availability are extreme weather events, not 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 here . i 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 crop deals are expected to become more valuable. i'm pretty well i will be of course will be a consequence of this, but we need to understand that farmers and directly across sector used to go with this extreme weather events in the chart. and now if we move now to climate change a, which is as low a onset, potentially possibly be very small increasing temperature, particularly in higher latitudes. so for example,

the temperatures increases up already the black sea green suppliers like russia and ukraine, and raising grains on all its production. these likely to continue as long as the temperature increase under main contain, by contrast, potentially very negative effects. in the mean region. what a precipitation is likely to be coming 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 2030. and in south asia, we will see over 10 percent lower deals of mains, right? i mean it, so the effects will be at the union among the different regions of their work. but one thing for sure that these long trained to increasing temperature or increasing extreme events in the long term, as i mentioned before, will be that we will also have more uncertainty and control. and more of a l e p. m. and that's, that's 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 by developing countries don't have those resources. so there we need to develop market oriented solutions. i'm for that we need, we need, 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 oriented patients 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 to that color. 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 and countries such as nigeria raise questions about whether output increases can be enough to satisfy demand. now nigeria is africa leading will produce the sector continues to struggle with many challenges and has 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 cost 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 santa maria, asked the nigerian minister petroleum to me, pray silver. this and other questions area that's really are the call of what we're spec to. brock militia, the bus passage on to be a last year marks for us in newer horizon. believe that it's going to drive a lot of development in the shuttle. but in addition to that, there were spec mulatto from b. o. well, the refineries right now in the country are under rehabilitation. i would believe that a lot, a lot of movement will happen in better shape or for actually on production,

i will not, i will not, i'll do find out is, will be delivered this year. but at least we are hoping, dr. down. good joe, to find out especially will be delivered. i also also, of course, to her a ticket plan project is also on their normal ongoing projects that we believe is going to, i'm going to contribute to a lot of growth in this sector this year. so it's actually the regional commission, 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 in nigeria want to know is will they see the effects? will the economy benefit? will it trickle down, pardon the phrasing to the everyday nigerian person what we expect that you will always get down to the people. i mean that the president, it's all about the people of nigeria and that's why you know, for example, it wouldn't be issues around that deregulation actually for the present,

just quite slow to doing it because you negatively. the hope is that when a lot of vision investments are much jim, it will be the production right to the people and also have to ease at the price of the manager. we are, we also want to contribute to the economy growth. for example, if we were to produce a lot of petroleum products from nigeria, we believe that there's going to be able to bring down the price of the product. when you come 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 livable unions or we're spec that out 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 blip job given i are not punitive to the people. for example, if they're missed prices go, we believe that if we produce a lot of fuel level, which is potash, which are the people can afford, it will help do the b, b, do boarding all the people. i know. so we also know that they learn results in significant increase in their, in personal expenditure or without people who are also looking at some palliative measures to take all that just to ensure that there be 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. let us show doctor would be down there. inflation. the inflation drove us with know that especially in the district or i be shocked by offer a better loan product is one of the diverse or the energy crisis. the price of their products is a dive off inflation as well. and that's why in the sector will try to, i should get down ah, be the price of oh, of products are but you know, productively people while ensuring that we are fully supplied. ah, that's what we're doing for now. we're short after we we will keep our inflation

under control. and so what we really appreciate your time today. thank you for joining us and alters here. thank you. and that is our show for this week, but i want to know what you think and what you want to see on the show, tweet or dna at mullin site. and if you're tweeting them, please use the hash tag. ha, 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, an anti episode to catch up. that is it for this edition accounting, the cost i moline site from the whole team. thanks for joining us. the news on out, as eric ah ah,

a february on i just need to host the winter olympics, but will diplomatically call the corona vibrates overshadow event. rigorous debate, them unflinching question up front, cut through the headlight to challenge conventional wisdom out there. it keeps you up to date as nascent tackling over covariance amid continued vaccine inequality. 11 east investigates how breakfast the pandemic and changing tastes are causing the great british curry crisis, amid record levels of unemployment. and it's pretty new quality. costa ricans go to the po, february on a, just eop lucas. she to says he will bring

a new form of capitalism. what does this mean? we bring you the stories and developments that are rapidly changing the world we live in. less than one percent of for vaccines have gone to poor countries. why is counting the cost on al jazeera ah, the u. s. senate choose to eastern europe, as he has grown. russia could invade ukraine, the kremlin, called the deployment disruptive. ah plumb, fully back boy, you're watching al jazeera, alive from doha. also ahead. an armed group attacks at camp for displays, people in democratic republic of congo, killing more than 70 new zealand reopening his order is easing one of the wells, toughest cove. it.