london, where trading has just ended. a joint news conference between president obama and president isne -- francois hollande scheduled. we go back to mark barton. fallingropean stocks after turkey shot down a russian jet near the syrian border prompting and move it into haze en assets. the european close a starts right now. erik: we are going to take you from new york to washington and london in the next half hour. kick it off for us. mark: it is all about turkey today. shooting down this russian warplanes. nook, putin's angry calling it a step in the back. we have the worries of serious

consequences. 18 out of 19 industry groups falling on the european day. the worst performers were travel and tourism shares. bycking the price of crude turning down. moving into the safety of european government bonds. erik: disappointing economic data, personal consumption for the third quarter lower than economics had expected. what do they show? >> the data was good out of germany. economy ist the weathering the emerging markets. also duty in germany rose 5.3%. dig deeper, because it is all about domestic demand which is supplanting or offsetting the weakness from the external

environment. spoke as well. he is the governor of the bank of england, and he said that low interest rates could have been for some time. the pace of tightening could be limited. andrewting comments from haldane as well. the risk around growth and inflation is fused to materially to the downside. englandsh bank of testifying before you can lawmakers. erik: let's turn to u.s. markets. a quick check of stock moves in the united states. you can see the major averages are declining stocks. down fractionally, tech stocks in particular. we have more for us from the nasdaq. are lower slightly at the nasdaq. we are covering some of their bigger losses. one stock that is bucking the trend is dollar tree. dollar tree is up after they

beat a sales meeting the macro trends. earningsdidn't miss estimates by nearly 9%. it was driven by a higher mix of low-margin family dollar products as they company continues to work through that merger. the stock was down as much as 25% at one point. even with today's gains, it is stuck sideways. newskes this significant to break the stock up or down. erik: thank you. live at the nasdaq and times square. let's check in with our first word headlines. mark: thank you. we are moments away from a news conference with president obama and the french resident runs well on. hollande.nt francois

attacks onerror november 13 the president has been trying to put together an international anti-terror coalition. -- war falloutl from turkey downing a russian more playing they have counsel tomorrow's scheduled trip to turkey. vladimir putin calls the downing a staff in the back. turkey says it shot down that plane after pilots ignored repeated warnings that they were violating turkish airspace. it is the first time in decades and nato country has shot down a .ussian jet an last month a russian passenger debt flying from the resort crashed and a terrorist bomb is suspected. britain has advised its citizens not to travel there. that is a look at her first word news right now. this programming note, as eric

mentioned earlier, we are awaiting that press conference at the white house between president obama and the visiting frenchpresident -- president françois hollande. we will bring it to you live here on bloomberg television. back to you. to minutesll be back from now. stocks from around the world took a hit after turkey said it shot down that russian warplanes. russian stocks falling the most, 3%. u.s. and european stocks dropped .s well the s&p 500 down a quarter of a percentage point. mark barton is in london with the latest chart. and ambassador burns at the kennedy school. falloutdetails from the of the shooting down of that russian jet. that should not surprise anybody. but the language from vladimir putin was expressly strong.

determining this a stab in the back. what does this tell you about how the russians are going to handle the situation in the weeks ahead? the russians are probably -- they are not transparent, not open with their public. they have been trying to convince the public that their air operations were going perfectly well. they denied any civilian casualties. oroubt they would be open tell the truth about what happened. they obviously have to, for domestic reasons, react in a very tough-minded way which he did. everything is going to depend on whether the terms can convince the world community that the russian plane did actually entered turkish airspace. that is a case -- erik: how long will that take? >> it will not be that difficult, because obviously they are tracking their own writers prevail to have video, or radar to establish the positions of those airplanes.

theturkish airplane and russian airplane. if they can do that with the states and united the other nato countries will have to defend turkey with the right to defend their airspace and sovereignty. warned the russians not to cross the border which they have been doing on several occasions. it is obviously in the interest of everyone not to see a repetition of this, and not to see an escalation of the conflict. behind the scenes i would think the united states would be acting to encourage the turks and russians to de-conflict --ir operations and have to transparency so that this type of thing does not happen in the future. erik: what country can play the most meaningful role to come -- keeps us from escalating? the united states is a nato ally of turkey and we

are in communications with the russians, we are well placed to do that, to make a point to president putin that he needs to control his air force at them out of the territory of the countries. openness ande time transparency, where the militaries are talking with each , tor, among each other prevent this type of incident, nobody wants to see an escalation. it is dangerous and it does weaken the fight against islamic state. president francois hollande could play a role. hurts andally complicates things for president ollanta because he is here with the full support of his public to see a stronger international response against islamic state. he wants the united states to step up, he wants the russians to redirect their airpower from the syrian and sunni targets and turned to islamic state. what he got today in the big

obamarm with president and impress conference is being diminished by this crisis between turkey and russia. erik: thank you very much. a quick commercial break on bloomberg. full coverage of the joint press conference from the white house just minutes from now. ♪

mark: welcome back to bloomberg markets. this is the european close. erik: time for the bloomberg

business flash. coca-cola's chief science and health officer is leaving the company after they were criticized for funding and anti-obesity group. cook shapes the group's agenda, and is $1.5 million to the global energy balance network. they helped to pick the group leaders, and mission statements, and edit website content. in september.se the reading from case-shiller was the strongest in 15 months. overall prices nationwide increased 4.0%. there is deal of the semiconductor industry. about 2.5 really dollars. -- billion dollars. several have in consolidating at a record pace this year. you can always see more business

news at bloomberg.com. president obama and president françois hollande will hold a joint news conference in the white house.the we haven't from all angles -- have it from all angles. mark: thank you. this press conference comes as we know on the heels of those attacks. parents on edge, france in a state of emergency. the state of emergency also in belgium because they are looking for one of the suspects they believed help carry out and even plan these terror attacks. we have been covering the story since the very beginning. we expecting from the french president other than his call for an international

anti-terror coalition? part ofurse the tricky his visit in the united states is going to be to gauge the willingness of the barack obama against islamic state in syria. morea has been showing support to the french. the french aircraft area terms legault arrived in the region on monday. it is ready to try the islamic state in syria. russia has supported the french processes in the region. france is the only western country with the united states to directly target the islamic date in syria. the death of a call today will be for president all launched to -- theact as a bridge

difficulty for president francois hollande will be to try to act as a bridge between united states and russia. this will not change any time soon. kevin, the complication was the news that we heard today, that turkey, a nato country, has shot down a russian warplane that the turks claimed had strayed too far in their air strays -- airspace. the pilots ignored repeated warnings. how will this complicate what president aland is hoping for, an alliance? is not an ideal situation to act as the backdrop for the press conference that we are about to his he just moments away from -- just moments from now. that being said i think that president obama is going to reenter rate largely eighth embolic measure of support. he has not committed to providing u.s. troops on the ground and he quite frankly deal

from a policy standpoint that the european counterparts can be doing more with each other to share in formation about these threats. mark: has that been a problem in the past where european allies of the united states, particularly france, germany, and others feel that there has been some sort of too much red tape trying to get intelligence on islamic state and other terror groups from the united states? concernurse the big with these paris attacks 11 days ago is the failure of intelligence sharing. intelligence sharing not only within the countries in the european union but also with the united states and russia. --can probably expect some from president obama that he will try to increase intelligence sharing with rents

-- with france. cap, the sharing of intelligence at this point, what is the united states prepared to in an effort to lead the fight against islamic state? from an intelligent standpoint, from a military standpoint, and the criticism that has been leveled at president obama and the administration. he called them a jv team, but that tone seems to have changed. >> to answer the second part of your question first, clearly the events in the paris attack have completely been pushed to the forefront of the presidential campaign. republican presidential candidates really hammering away at the administration's response, and to some point largelyclinton distancing herself from the president on his strategy with isis.

the american people are growing with -- increasingly frustrated with the president's strategy. it includes increasing the military presence of parts of this broader coalition, increasing the number of airstrikes, increasing the number of special forces. however again there has been widespread criticism about his lack of communicating the strategy not only to the europeans to the american public quite frankly are pretty concerned heading into the holiday weekend when the state department has issued a warning for those traveling with thanksgiving holiday. mark: r bloomberg reporters at the white house and paris, they are going to stay with us. we're going to take a commercial break. we will have full coverage of conference. you're watching bloomberg television. we will be right back. ♪

erik: welcome back to bloomberg markets. this is the european close. mark barton is in london. for ago back to you moment. bring us up to speed on how the european stocks closed. almosthe biggest drop in two weeks for the european stoxx 600. and that is how the entire european equities space. today. fared today.y -- just to reenter, the biggest decline at europe's biggest hotel company. the gains included the oil companies. it was very much a day of slight moves to safety. the european government bond markets, bond yields and u.k.,

bond yields in spain, france, and germany all falling today as money flooded into the payments that are the fixed income market. turkish 100 index, the worst-performing level at 40 -- equity index. lira sinking against all 31 major currencies. these are the currencies, the lira, the ruble, that are most vulnerable to geopolitical events, and to a possible rate hike in the united states. relying on foreign capital, the current account deficit is the whitest relative to gdp within the g-20. keep an eye on the lira, the dollar is up today. it has a day when letting them

riskier assets and into safe havens. erik: thank you. mark barton in london bringing us up to speed on european markets. president obama and french resident francois hollande are minutes away, we believe, from holding a joint news conference in the east room of the white house trademark rubbed in his anchoring our coverage rate -- white house. mark crumpton is anchoring our coverage. let me begin with you. at this point, what does president aland one to hear from president obama? >> what he is going to here is a reiteration from president obama --bolically, but he once

wants specificity. there is pulling to suggest frustration with this president on both sides of the island also abroad on how he has been able to communicate that strategy. hopefully the president will begin to appease us of those concerns at this press conference. mark: speaking of political standing, what has the aftermath of these terror attacks done for president françois hollande standing in paris or friends -- france overall? up,ou have elections coming but france also has some presidential elections coming up in 2017. importantse is very in terms of his popularity in front of the french people. now according to some of the holes that we had in the last thedays, more than 90% of french people support him and just after the attacks.

the policemen being able to carry their weapons even when they are off duty. thever the popularity of president has increased. but he still remains very low, around 30% of regularity. more french people wanted to see, a few days after the attack them according to a call for , many french people, the majority wanted to see a national unity government that would have included resident françois also politicians from the european union. these to our allies, these countries are trying to get together to five islamic state. what message is the united days hoping to send to some allies who like the on the sidelines and not on behalf of the united states would like?

>> they look to show leadership and cohesiveness. turkey and russia are dealing with their own diplomatic endeavor as that is unfolding. we look for president obama to try to clearly articulate the united states strategy on leadership in battling the islamic state terrorist. mark: thank you. again, as we had to break, at the white house a live shot of the east wing -- in the east room, the president of the .nited states and france the number one topic will be islam state and the fight against terrorists. stay with us. we will be right back. ♪

mark: welcome back to bloomberg world headquarters in new york. alive press conference set to get underway in moments from the east room of the white house. president obama and french

president francois hollande are meeting on the heels of the terror attacks and paris, taking place 11 days ago. a shot ofoking at vice president biden taking his seat among dignitaries. this press conference adds significance because president establishs looking to an international coalition to fight the islamic state. let's go live to the white house where the president on bloomberg television. it has been an honor to welcome you to the white house -- president obama: it has been an honor to welcome to the white house, but as americans, we stand by our friends in good times and in bad, the matter what. on behalf of the american people, i want to express our deepest condolences to you and all of the people of france for the heinous attackat