>> breaking news. malaysia airlines jet has crashed in ukraine near the order with russia. i'm mark crumpton. our continuing coverage starts now. blasier airlines flight 17 has crashed near the ukrainian border with russia. ukrainian officials say the boeing 777 was shot down by a missile at 33,000 feet. ninenian separatists shooting down that plane. 295 passengers and crew were on board the flight. tom keene joins me now with the latest. >> good afternoon. t ofave a wonderful se

guests to give you perspective. some of the photos are horrific. aretelegraph in london putting quotes around the term shot down right now. it's good to michael mckee who has done a great job of keeping us up-to-date on this. don't have a lot of details at this point. we do know malaysia airliner flight 17 took off from amsterdam at about 12:30 and disappeared from radar at 4:20 european time. doubtlaysian airlines to that they lost contact with flight over eastern ukraine. the ukrainian government said a plane had crashed in eastern ukraine. they say 280 people were on port of the flight -- passengers and

15 crew members. the ukrainian government initially responded saying that the rebels had shot down the plane with a surface to air missile an. the president of ukraine said there is some suspicion that may have happened, but he's not accusing them of doing that. the rebels later said they would not comment, but would turn over the black box. the area have started coming in and they do show plane wreckage. so far, no confirmation that y kind of missile fired. u.s. planesyou that won't be flying in the area for quite some time because of the hostility. we do know they have some surface to air missiles. whether they have one sophisticated enough to bring

down an airliner at 40,000 feet is an open question. >> thank you so much. aside byly gets pushed the scope and scale of this developing story. there it is. a coordinated and correlated theet check with the dow -- selloff as the news began this morning. everybody began to see the story. you see it in the 10 year yield as the equity markets come down and yields go lower. the four digit yield and the 10 year yield, 2.4764. gold was up $23. now up $18. isjoining us on the phone common el-erian -- mohamed el-erian.

the market implications, what are we seeing? >> what we are seeing is an immediate selloff in risk assets . importantly is what happens next. the escalation of the crisis in ukraine has been shrugged off after an immediate selloff. people believe it's in nobody's the situation to deteriorate further. it will be interesting whether we replayed this process again this time around. that everyot forget time we take a step closer to a tipping point. >> good afternoon. when i think about this tragedy come i think about your book, "when markets collide." what is the unknown right now for you when you see this news flow? >> the bigger known is who is responsible. if it turns out that the

responsibility can be pointed directly or indirectly to russia, the west will be under tremendous pressure to escalate the sanctions that were already stepped up yesterday. it the big unknown is who is responsible. be -- shown so to to be responsible, there is a higher probability of more sanctions from the west. aviation weekly in february. commercial airlines need antimissile detection. -- protection. aur worst nightmare was that civilian airliner would be shot down. is aingular distinction

lot of experts have been thinking about this for a long time. have you run into this debate before about surface-to-air missiles? >> i have not directly run into the debate, but there are assumptions we will operate on. one is that commercial airliners when they fly over hotspots are safe. should that assumption prove incorrect, you're talking about rerouting the planes -- it would be significant. as the news evolves, there may be a number of paradox changes. the biggest one is, does this lead into a step up in sanctions? first russia, then companies. is sanctioning sectors as a whole. would take the sanctions

from being isolated to being systemic in nature. >> what does this mean for the energy markets now? what does it mean for the in a war zone, airlines deciding they can no longer fly those routes? >> it means more consumption because we will have to have divergent around these zones. the u.s. has warned its own airlines about this possibility. others are not taking it seriously. seriously.ng it if it turns out that this where ukraine is worse off and russia is worse off, the economy is worse off. one of the good questions i got was, what does ukraine meet the united states -- mean to the

united states? with a set of mold lebed we have now -- with a set of multiple , what doesave now this say about an exogenous event? >> some people will tell you it phenomenon.bigger increasingly, the marginal sector is the small actor. if it turns out that this is a missile fired by the rebels, suddenly, you've gone from states controlling outcomes to individuals having a huge impact. significant ash there is a lot of unknown unknowns.

the news of the next few days will be particularly important. does this leave the new president in ukraine in relation to the dynamic between him and president obama and president putin? out howhave to figure he wants to react. becomesirspace dangerous, this is bad news for ukraine in so many different ways. it is important to see how he reacts. he needs to ascertain what actually happened. the worst thing that can happen to knows that everybody reacts prematurely. >> you see the reaction here right now. this from reuters coming across the bloomberg terminal. air france to avoid eastern ukraine airspace. assume sixf we just

miles up flight over any form of dangerous territory is a safe flight. up.00 feet this and a g-7t response, is there a way to respond to it? -- a g0is ag zero world world. the g-7 will be divided because the action that the g-7 can take hurts the g-7. intensified sanctions, go to sectors, target energy and finance in particular. the problem with that is that you are likely to trigger counter sanctions by russia on energy suppliers to central and western europe. it's a very that cold situation.

-- a very difficult situation. we are seeing divisions within europe on russian sanctions. >> thank you so much. there is no headline. our special coverage here on bloomberg television, we welcome you worldwide. a malaysian airliner is shot down near russia with 295 aboard. we stay with us. -- these stay with us. -- please stay with us. ♪

>> welcome back to our continuing coverage of the crash of malaysia flight 17. michael mckee is standing by in the newsroom with some breaking news. statement from malaysia air confirming that the plane did go down.

confirms it received notification from ukrainian air traffic control that it had lost tact at 9:15 u.s. time. waypointters from the third 50 kilometers from the border. boeing 777 departed amsterdam was2:15 amsterdam time and supposed to arrive at kuala lumpur. the flight was carrying 280 passengers and 15 crew on board. it has lost the airplane and there were 295 people on board. no further details from the airline. >> thank you so much. we will give you all we can.

right now, we go to washington. , i would suggest the president land has been dramatically changed in the past few ours. >> that is an understatement. we know he had a conversation with vladimir putin earlier today. i called to talk about the new sanctions that had just been imposed by the united states on those four major russian companies. the subject did switch to the lane going down at some point during that call. conversationf that still a mystery to us. you that there are plans for congress -- a briefing for the senate intelligence committee this afternoon assuming this is a subject they will be talking imaginered you have to

this is top of the agenda and members of the house intelligence committee have been getting briefings as well. members of congress will start weighing in. we also have received word that president obama and president putin had a phone call. they had a conversation earlier today initiated by the russians. up in thect did come course of that conversation. it was not the start of the phone call or the point of the phone call. at some point, it came up. know what was discussed specifically. we know at this point the white house cannot confirm what caused the plane to go down. united states has not a weight in specifically. eighed in specifically.

those sanctions were stepped up because of the u.s. view that the russians had not bee done enough to prevent escalation. >> thanks. the state department is expecting their regular afternoon briefing. no doubt this subject will come up. secretary kerry has been all over the map dealing with iran and syria, russia and ukraine and now this. >> there is no other story out there. we are going to bring true experts on aviation and ballistics. missiles that were possibly used here. john mcgraw is uniquely qualified to speak to us about this event. 30 years of aviation experience .

perspective as well. how did you bring in the idea of surface to air missiles? how did you think through that initially? this,any accident like early information is almost always wrong. can rule out we mechanical. if you're lane was shot down, you have to decide if it was from the air or the ground. there has to be something more --n a surface to air missile you are talking about more sophisticated systems to reach an aircraft at that altitude. who was operating the system? was it the russians or someone else? is operatingment that system, they are dealing

with air traffic and they can coordinate to make sure they otn't accidentally sho down a civilian airline. it's a very sophisticated, multi-personnel piece of hardware. are they all over the place? thinks of like you sophisticated ground-based missile systems that can go that high in the air, are there a plethora of them across europe? >> every country has a system to protect their borders. just to make sure another country does not fly in and attack them. they are pretty widespread along the border. they are sophisticated. typically combined with other radar. theyhave enough range that can have time to determine if it's a friend or foe. sense that there

are a lot of these systems out there and we don't know who's in control of them? >> there are a lot of these systems. they are almost always in control of the government. the countermeasures we've been are really all oriented around surface to air missiles because there are so many of those around the world. they are easily hidden, easily deployed, very low requirements for training. a range orally have a ceiling limit of money thousand feet or less. -- 20,000 feet or less. an attack of this altitude points to something more sophisticated. >> if you talk about something sophisticated, it should be able to detect whether or not this was friend or foe. whether it's a civilian or military aircraft. system is in place

and working the way it's supposed to, it would include coronation at the air traffic -- coordination with the air traffic control system. not?his intentional or you would hope that they are trained on the system, they can coordinate with air traffic and find out. in the hands of somebody not connected to the government directly, they may not be able to. what is the percentage of time that any commercial airplane would not have their systems engaged so the military would know who they are? is that a possibility here that any given commercial aircraft would not have the telemetry up so they would know who that plainness? >> not if they are following their own procedures. theirave to have

transponder on and systems turned on. the information about that andraft is all anticipated the handoff is done directly between air traffic control centers so they can expect the airplane coming in and nowhere ow going to -- and kn where it's going to depart their air system. >> would you have flown over ukraine? the assumption has been until now that governments are in control of those systems and there is not a lot of upside for a government to take down a commercial airplane. this may be something new we have to worry about. a lot of the information might be wrong. likely wrong until we get more

details. investigators going to be looking for in the wreckage? blacky will pull out the boxes. they want to know what happened in the cockpit. if there was a missile strike and the crew was able to talk, they will pick up clues from that. they can look at whether an engine was hit or not. they can tell up there was some flight control. they will be able to look to see if this is purely a mechanical issue and not an airplane being shot down all. they will need to look at radar in that area. see if they can determine if there was any activity in the area they can pick up on radar. >> thank you so much. mr. mcgraw. michael mckee has been given the task to look into all the

different news organizations to some all this together. sum all this together. thehis is not official from government of ukraine. an official says of the 295 people on board, all of them were apparently killed in the crash. 23 were americans. we have no independent confirmation of that. the latest we do know is that malaysia airlines confirms the plane went down about 50 kilometers from the russia-ukraine border. airlines around the world are now steering clear of that area. u.s. carriers would not have been flying over that area. since april, the faa has been preventing them from flying over

that area. michael mckee, thank you. hyman has been watching the reaction in the markets on this thursday. good afternoon. >> we are seeing somewhat of a negative reaction. investors have been saying it somewhat muted and it has been trimming. the declines have been hearing s we have gotten away from the headlines. points.aq down about 25 we are seeing energy stocks, industrial stocks selloff the most. overse of the uncertainty what we've been talking about. who did this and what are the implications? as we've been selling stocks, investors have been buying treasuries. the 30 year bond yield go to the lowest level in six weeks. that buying began on the news of

new sanctions against russia coming from the united states earlier today and then exhilarated as the headlines about the crash started to come out. we are back in two minutes with more on this breaking news from ukraine. ♪

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>> you are watching bloomberg television's continuing coverage of the crash of malaysia airlines flight 17. i am mark crumpton in new york. the boeing 777 went down in eastern ukraine near the border russia.sian -- the ukraine is leaning pro-russia rebels, but the rebels denied the accusations. the plane took off from amsterdam and was headed to kuala lumpur with 280 passengers and 15 crew on board. state department briefing -- the live state department briefing. u.s. citizens on

board -- even if you do not know if that is actually correct -- 23 u.s. citizens on board, even if you do not know if that is actually correct, do you have information from the manifest? >> we have seen the public reports. we do not have additional details at this point and american citizens. we are looking to obtain that information and as soon as we have that available we will make it available to you. >> we know the president spoke to president putin this morning, and the plane came up. as the secretary made any calls to anyone in russia, the ukraine, that you are aware of? >> not at this point. obviously, this is tap-in. we will keep you updated on additional calls. to?oes he plan >> i do not have any planned calls to predict, but if any happened we will make sure they are available. >> the ukraine foreign ministry

is saying they have reasons to believe, is just a guess, based on their assessment, this was a russian-made buk missile in the hands of russian separatists and you have chatter on twitter with separatists saying they did shoot down a plane. has your team on the ground spoken to the ukrainians, have they told you this is their assessment and you want your own confirmation -- where are you? >> we are in touch with ukrainian authorities. >> they obviously share this assessment with you. >> i do not have further reviewed -- readouts. it is a safe assumption that we are discussing the reports out there. events are very fluid on the ground. we do not have any more information from here to share. >> given that it is very fluid and very early, there is already a, kind of, some common wisdom

that says the separatists have is this just to confirm your unbelief and you do not have confirmation -- you have suspicions at this point? >> i will not speculate. todo not have other details share other than the reports you have seen. terms of the causes, individuals on board, -- >> there were some ukrainian planes shot down in the last week, maybe in the same area, is that something you are looking at comics this could be a similar mistaken -- >> i will not speculate further. >> aside from what happened, whoever or whatever was responsible for it, was it correct that this type of missile just mentioned, the buk missile -- >> i could have said that wrong.

it,owever you pronounce that this is among the weaponry that has been transiting from russia, from these military russiay sites in western to the separatists in ukraine? but am happy to check that, we do not have confirmation that that is the cause or the source of the plane being downed. >> i know, but are the missiles at the ukrainians they are responsible, are those the types of missiles that you were complaining the russians had been sending into ukraine? with ourppy to check team of that information separate from this incident. >> one of the things yesterday, when you impose the new sanctions on the russians, isn't it true that one of your concerns is the russians have been doubling down, increasing,

actually, the supply of weapons to the rebels? >> we have stated that publicly, but there's a difference between making unconfirmed allegations. >> i understand, but without talking about the specific buk missile or something, is it a concern that the russians have been supplying trucks-mounted or shoulder-firing missiles. >> i would point you to pass comments we have made about it. >> administration has made clear it points the russians for escalating the conflict in this area and they have added to the tensions there. so, whoever is to blame ultimately for this downing of the airliner, is there some responsibility born by moscow for the situation that now exist in the area? speaking, broadly matt, the fact that we announced yesterday a new round of sanctions, including several energy companies,

companies, speak to our level of concern about the eskimo tory actions that we continue to see from russia. -- escalating actions that we contingency from russia, however we do not have any confirmation that i want to stick to it who is to blame or the root causes. climate thatf the has escalated and led to this tragedy. >> again, we do not know that at this point in time because we do not know the causes or losers possible for the plane going down. >> what, if any assistance, with the administration provide in an investigation of this incident? >> it is too early to say. we have historically provided a range of assistance. you're familiar with the assistance we provided when the malaysian plane disappeared. we can keep you all up to date on whether there is a request

made any request granted from our end. >> given the fact that this plane did fall down and separatist territory, clearly those separatists are not equipped, capable to launch -- i see they have tried to say they will help with an investigation, but given that they do not have the capability to launch an investigation, i think they might have control over the black boxes, how do you see the ukrainians, and how can you help navigate ensuring there is a an investigation? >> we are in close touch with ukrainian authorities, and if there are requests made we will keep you all abreast if we are providing assistance and what type of persistence -- assistance we are providing. >> can you confirm if any americans were on board? >> i cannot at this point in time. is happened so recently, lucas, but we are happy to provide

details as soon as we have them to confirm. obviously, we are seeking that information as we speak. do we have any more? go ahead. incident,rom this just generally speaking, the situation in the east, i presume, but please tell me if i am wrong that you still have the same concerns and the same issues with the russians that you did yesterday that led to the imposition of the new sanctions. is that correct? >> that is correct. >> and you have not seen any meeting by them toward what has been asked of them. >> in the last 24 hours, no. >> i am not sure if you had a reaction, and i do not think you did because it happened so late, the eu's move, where they said

they would have new sanctions by the end of the month. is that ok with you guys? they place some restrictions. they took steps yesterday to impose costs on the russian economy. we have been doing these, including yesterday, in close coronation with the eu. they moved to put in place the legal framework needed to impose cost on russian companies that territorialraine's integrity. we were coordinating closely with them. we were in close touch with them. we certainly welcome these steps the europeans have taken in this regard. i am sure you have the details and i'm happy to outline them for you if you have questions. >> one of the companies it with the sanctions, the company that makes ak-47s. the russians today are saying this specific sanction runs counter to the interests of u.s.

consumers. do you have any comment on that last night >> -- comment on that? say as we areme making decisions on sanctions for the relates to here or around the world, we take into account the impact of the net it states, its businesses, and consumers, and we feel at peace, political stability, and respect for international law are of critical importance to the global economy and u.s. businesses, but let me give you some specific examples of the precautions that we take. the sanctions that we imposed yes they were deliberately crafted to limit to the extent possible spillovers on the united states and third-country companies. in the financial sector, with deliberately avoid interfering with day to day operations to avoid a shot to global financial markets. in the energy sector, we took steps to limit the ability of certain companies to raise dollar financing, but we have

not tried to interfere with their ability to export oil and gas or maintain their existing joint centers. we take into account any impact on u.s. businesses, u.s. consumers, as we make these decisions. >> so, the specific sanctions on the kalashnikov company will not affect american consumers of ak-47s? >> i have not seen the specific impact that has been listed. if there are specifics, we can look into this. ,en psaki >> -- >> jen psaki spokesperson at the state department of the noted state, refusing to speculate on what .rought down that passenger jet she did tell reporters that the state department is concerned about russia supplying weapons to the rebels and she did mention that u.s. officials are in touch with ukrainian authorities. >> and, of course, the president changing his plans as well. to thel here is to talk

smartest people we can find and sort out the information from the misinformation as well. again, markets moving pretty well. we have a map from our wonderful people over at numeral.com. -- bloomberg.com. this is in real time clearly a developing story, but the plane moving well over 100 miles past, and almost into russian airspace when the story broke. i was looking at one of the websites that follows international aircraft come and it only went well into western ukraine, and here we have much farther. that map on bloomberg.com. chiefcook is our washington correspondent, and, of course, plans being changed in washington. peter, what have you learned in the last 20 minutes. >> just to follow-up on what we heard from jen psaki, more information between -- on the

conversation between the president and president vladimir putin. we knew the subject of the plane came up during the course of the conversation. what we learned from the readout provided from the white house is that president clinton mentioned it and -- president putin mentioned it and he noted the early reports of a downed passenger jet near the russia i think ukraine border. no word on what might have caused it. you from thell statement is that the initiation of the call came from the russians and it was to discuss the new sanctions being imposed by the united states. the president walking through why the sanctions were being imposed, and one of the reasons he cited was the flow of heavy weapons from russia into ukraine, and the president specifically asked for concrete to deal president putin with the escalation, and he said specifically, again, let me read

, "the from the statement concrete steps to de-escalate the situation including pressing separatists to agree to a cease-fire, halting the flow of fighters and weapons in the ukraine, and -- obtaining the release of all hostages still separatists, and working with border monitors to de-escalate the situation. that is what president obama asked president clinton to do -- president clinton to do -- putin to do on that call. >> i do not mean to get you unaware, do we know where secretary john kerry was when this occurred? >> he has been a busy man, a part of busy conversations in vienna, afghanistan recently, and i do not want to say specifically where he is because there are times we cannot report

where he is because i do not want to give you information and be wrong or give you information i can be relaying at this moment. >> right. with your experience in washington, what is the information that you want to find out politically from this event? >> you know,,, given the ,eopolitics involved -- tom given the geopolitics involved, the information i want to get is the same information members of congress are getting. they want intelligence, basic facts, who was responsible. if some of the reporting is incorrect they want to know about it before they make public statements. that is what the united states government is doing as well. that is why jen psaki is reluctant to go anywhere near early reports that some group might have been to blame. my understanding is that denis mcdonough, the white house chief of staff is on capitol hill. he is participating in the

briefings for members of congress, and i know there are members of the house intelligence committee getting information right now, more than you and i have. >> intercut, thank you. -- peter cook, thank you. furious,is fast and trying to sort out fact from speculation and rumor is michael mckee. what do you have? >> we have a statement from the ukrainian government officially saying what some of their officials have been talking about earlier, saying they do not have any missiles in that region where the plane went down. they suggested that the rebels might. the interior minister -- minister said earlier today that missile launcher was used and that would have the range to shoot down a plane flying at 30,000 or more feet, but there is no confirmation of that. there is also a report from a

interior minister advisor the 23 americans were on the flight. no confirmation of that. you heard jen psaki saying they are still trying to determine the presence of americans. there are also some questions a 17 would be in the area. it turns out the european safety aviation administration headband airliners in april. planes are not supposed to be flying over the area. of course, three ukrainian government jets were shot down earlier this week by the rebels, at least that is what the rebels say. >> michael mckee, thank you. we have learned details about 17 from social media, to the malaysian airlines twitter account. joining me now from san francisco, "bloomberg west" anchor emily chang. what are we learning right now?

>> as with any breaking news, it is playing out on social media, and while the information you be in the early minutes can confusing and often wrong, it can be revealing. in the earliest minutes after the crash we saw a facebook post on the page of an advisor to the ukrainian interior minister, and this was translated automatically by facebook saying ,hat he was fine at an altitude and his terrorists, there is no limit. open your eyes, help us all. again, it's been translated automatically by facebook. at the same time a ukrainian separatist leader posted on a russian social network translated by google translate , a"in the region of torez plane has been shot. it is somewhere near the

progress mine. we have warned them not to fly in our sky." again, this is not confirmation of how this happened or why this happened, but the details can be revealing. also, the earliest mention of this on social media that i found was from malaysia airlines itself, tweeting malaysia airlines has lost contact of ma 17. the last known position was over ukrainian airspace. more details to follow. we all know the malaysian government and malaysian airlines have been criticized harshly following the disappearance of another malaysian jetliner earlier this year. we have also heard from the malaysian prime minister the atwitter saying i am shocked by crashedthat the plane and we are launching an immediate investigation. the malaysian defense also speaking out on twitter, saying he is in contact with other malaysian officials as to what

has happened and why this has happened, so malaysia trying to get out front by being active and communicative via social media. again, no confirmation of how or why this happened, but certainly evident that social media can be eliminated in these situations. >> thank you. >> emily chang, to isolate much from california. story continues to unfold, and it has not really even sunk and yet. >> erik schatzker was right, as coveragen -- including , it is a horrible tragedy of unimaginable proportions because this is just something that people have told us does not happen. we are looking now at pictures reportedly of the crash scene. again, as we showed you on the map a few minutes ago, it seemed the malaysian flight was headed tom across ukraine, and as

mentioned, it made it almost to the russian border. there you see part of the fuselage. that looks like it could be part of the wing. broughtsee whenever this down, there is some serious devastation. >> the photos have been difficult. twitterat are out on that emily chang was mentioning, and these much more related photographs right -- that did --vetted photographs right -- and these much more vetted photographs. edward hunt joins us. , what doe of this news we need to know about this fear from professionals that has always been out there and now it is finally here? time an not the first

airliner has been brought down in tragic circumstances by a weapons system. 4, five,e been 3, possibly more. targetircraft is an easy for a service -- surface-to-air missile. takes isase, all it for someone to misinterpret a radar single -- signal and launch an attack. , with his revived the debate about civilian aircraft and those aircraft perhaps being equipped with antimissile systems or some sort of defense mechanism? thanks it is possible. there are antimissile systems -- >> it is possible. systems. anti-missile some military aircraft are equipped. there are a small number of civil aircraft equipped, but it

generally they are not carried on the ground, as this is statistically unlikely scenario. i let me ask the question asked james mcgraw. what can the airlines do -- do talent germany on board? >> yes, they are required to have transponder codes that shows the aircraft, the manifest, to its destination, its progress. operations, more information is better, as opposed to military operations. in theory, it should be known as a civil aircraft. the caveat is if you're looking at a radar return with an air defense radar, you may just be looking at the strength of the signal and determine the type, size, speed. you might not have information inut what it is broadcasting

broad daylight that it is a civil aircraft. it may not be immediately apparent to a military operator. >> edward, what does it tell you about the level of violence or hostility in that region. you have other areas of the world where you have hostilities, but commercial airliners are not avoiding that area per se. it was back in april that the u.s. had advised aircraft to avoid parts of the ukraine. >> like anything in the modern world, there is a risk assessment, and then lines are drawn that you should not go to close to a danger zone. obviously we have. vicinity,-too-distant around serious, direct -- syria, iraq. expertise, i would

think everyone now would be calling you to gain perspective. what would you say this evening to someone in your family about the professional space you are in that we do not understand? as you observe this event, what will you tell people just socially about what they should pay attention for? mentioned,think as i it was almost certainly an accident. there is no political capital to be gained from killing civilians, many of whom would have been neutral in any case. the suspicion would be a group of operators looking at their own radar return but not having access to a wider network of air traffic would have presumed it was a military aircraft and taken the decision to open fire. it still remains an unlikely scenario. it isircraft is lost, usually an accident or pilot

error. -- >> edward hunt hunt, thank you so much. a lot of unanswered questions. it,ou have to sift through and again, the imagery that we see right now begins to bring this home. there has been a market response. here is julie hyman. >> we are saying equities indeed move lower. we are not seen a sharp selloff. i've been told by investors and traders that it is not characterized by panic because the conflict seems to be contained or the implications of the crash -- it is not yet clear what is going on so people do not want to make larger bets than they are given the absence of information. we are seeing this reaction in the equity market, but as tom mentioned, people are getting into where they see safety. that is treasuries, which received rally in price. gold prices rally. --ladium also wrapping

rallying. we will bring you more updates from the market and from ukraine with more continuing coverage next. ♪

>> good day. i am mark crumpton along with tom keene. lives continuing coverage of the ongoing situation in ukraine where ukrainian separatists and the government both deny shooting down a passenger plane with 295 people aboard. let's get to michael mckee at the breaking news desk with the very latest. good afternoon. >> let's bring you up to date. 17aysian airlines flight took off at about 9:00 p.m. nine --time -- at about 6:30 a.m..