another rough day for stocks europe ends in the red the dow tumbles a thousand points of the u.s. markets fall over three percent what's behind the new downward trend we'll get the view from wall street also coming up germany has just reported bumper trade figures but that's unpalatable makers they just can't keep up and turning off ukraine's tap the country will miss out on a vital natural gas in combat as the north stream two pipeline between russia and germany gets the go ahead. daniel winter in berlin this is your business update volatility has plagued the markets all week following a broad sell off on monday european shares closed in negative territory and thursday's session ending a short lived rebound germany's dax was the worst affected in europe closing down two point six percent in new york the dow finished over a thousand points in negative territory for the second time in a week analysts citing higher treasury bond yields as the catalyst for thursday's rollercoaster. quarter is tracking this from

wall street for us so yes volatility continuing it looks like investors are still worried that increasing interest rates this year will hit corporate profits or is there more to it than. that is one of the major reasons and now we can officially talk about a correction because the markets are down ten percent from the recent highs and still nobody wants to talk about correct but that is pretty painful what we're seeing right now the s. and p. five hundred has seen a loss of about two trillion dollars in market capitalization just within about two weeks and if you look at it yes there is economic growth but how did we get there in the past also because of debt financing from consumers also from corporations and the government for sure as well private household that stands at around thirteen trillion dollars that's

a record corporate companies have taken about eight trillion dollars in debt in the past couple of years and now that rates and yields are increasing that becomes more expensive and therefore could become a problem ok so the pain continues but let's look at earnings now finally twitter is got some good news to tweet about it's made a profit. yeah that was more or less the only bright spot here on wall street the stock at some point trading up by almost twenty five percent well in this market environment at the end of the session it's ritter's still gained a good twelve percent in value and yes for the very first time in. the company's history they shift a profit possibly partly because they doubled the character limits on their tweets they also went deeper into video and all of that seemed to work out nicely for twitter so the one bright spot on wall street in a stormy thursday session ok at least there was that one bright spot there against

quarter thank you very much. to trade now and fresh data out today germany's trading partners constantly complain about its height plus saying it causes economic imbalances the country ships out a lot more than it buys in but exports have reached a record high yet again hitting one point three trillion euros worth of audi cars i need to shoes and back spears to name just a few but that's not the whole story imports increased as well to just over a trillion euros narrowing germany's notorious trade surplus to two hundred forty five billion euro. and you know your country is experiencing is there are so many factors involved that it can cause a bottle make for the machines that make the pallets to the forests that produce the wood it's an operational nightmare. the family owned company a monster is running at full capacity now in its sixth generation that specialized in producing wooden transportation pallets forty years ago. the head of the family

says they've never had to cope with the kind of overwhelming demand they face right now. until last year they said was piled high from wall to wall with pallets now it's cleaned out. and why is that. the economic boom industry is literally pulling out pallets straight out of the dryer and straight on to the trucks we can hardly even manage to build up a small buffer as a reserve. last year vingle hided took on twenty new workers now with a total workforce of ninety the company is having to work in shifts just to keep up with the demand. last year germany's pilot manufacturers turned out one hundred ten million of them. that would fill up over one hundred fifty thousand forty ton trucks. the sector association says output has doubled in size ten years . in. general the companies are scraping the production barrel basically they're

trying to squeeze everything they can out of their production lines with extra shifts holding people back from holiday times essentially taking all possible measures to ensure that every last minimal capacity is utilized just to make sure the demand is met somehow enough. think of it is waiting impatiently for new machinery. would dry as and heating systems were ordered a long time ago. but the economic boom is evident here as well. as their own enough of the companies left that make our specialized machinery those still on the market today have extensive lead times we sometimes have to wait two or three years for a new machine. even the mild european winter is a factor behind the shortages joint managing director marcus vehicle hider says it's hard to get wood from eastern europe right now. logging in eastern europe is

done mainly in winter there's a lot of more oil and they can only access the forests when the ground there is frozen and there's no swamp and they can get the machinery into fell the trees right now the ground won't support the weight of the heavy machinery. think of how it is lucky it can process locally sourced wood in its own sawmill that means it can compensate for the shortage of eastern european wood for now at least. germany has its foot firmly on the gas pedal after granting apartment for the north stream to natural gas pipeline from russia the first pipeline of the north stream runs along the bottom of the baltic sea from russia to mean in eastern germany. it's just a project running along. i will double capacity of the root which currently stands at fifty five billion cubic metres critics say it'll increase europe's energy dependency on russia ukraine is set to lose out most present over hof of russian

gas exports to the e.u. pos through the country but for how much longer. by the time russian gas flows through these pipes it's already traveled thousands of kilometers from siberia on its way to customers in central europe this compressor station keeps the pressure in the pipeline stable ensuring that gas reaches its destination for the west at least for now. this plant run by ukraine state energy company now to gas was built almost forty years ago and it's now coming to the end of its working life as ukraine struggle to maintain its position as the chief transit country for russian energy needs to upgrade the infrastructure a pilot project financed by torture bank and underwritten by german export guarantees will see the multi-million euro compresses successively replaced but the question is will they ever really be needed. the north stream pipeline linking russia and germany directly across the baltic sea here is said to be joined by

a second connection to construction is due to get underway later this year the new pipeline will be able to transport some fifty five billion cubic meters of gas equivalent to two thirds of the gas transiting ukraine on average in recent years the project critics in ukraine. would mean more than just. one last transit income . they say creates europe's dependence on russian energy and allow the kremlin to put political pressure on its former eastern european satellite states by halting supplies without endangering deliveries to its big western european customers feel that something nordstrom's backers including former german chancellor and current chairman have consistently rejected saying the deal is purely driven by economic considerations and provides additional capacity rather than replacing existing pipelines ahead of ukraine state energy companies not convinced and hopes the project can still be stopped i have never heard of any major gas pipeline. we

believe that is not a done deal there are still a lot to be done but for all the. talk the fears are as much about politics but they are about business for the past forty years this station and dozens of those like it across ukraine have kept russian gas flowing west europe keeping households from berlin to the balkans warm in winter the fear here now is that if north stream too is actually built europe's energy supply will no longer depend on transit through ukraine and as a result european policymakers will pay a lot less attention to keeping ukraine stable. but just a matter of months to go to construction to get in the way ukrainian hopes now resting brussels and washington to finally translate their vocal opposition to the project direction. nicolas connelly reporting there from ukraine fold investigations in hungary have reached prime minister viktor all bans family and gary and prosecutors following

a recommendation by the european anti fraud office to investigate. they suspect fraud and valving e.u. funds in thirty five public lighting projects in several towns they were carried out by the company controlled by law and he also says the investigations are politically motivated ahead of a national election in april. receives billions of euros in a huge development funds every year. and i'm afraid that hold your business if you want more you can check us out on a social media facebook and twitter just search for d w business i'm on twitter at winter of business well i'll be back with more tomorrow same time same place. until then from the new business team here in berlin thank you very much for watching.

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