60 t.w. . we speak different languages we fight with different things that's fine let me also make up for freedom freedom of. u.s. markets take a beating as fears grow over the spread of the coronavirus tech and travel stocks are hit especially hard but investors watching new alfredson asia and europe. also on the show will take a closer look at one of those outbreak areas in italy where it's already fragile economy braces for more bad news. and the coronavirus isn't the only illness putting pressure on european economies the bird flu is spreading in eastern europe . this is your business report i'm stephen bears in berlin it's good to have you

with us markets worldwide plunged monday on fears over the spreading coronavirus in the u.s. the dow jones industrial average fell 3 and a half percent erasing its gains over the year the tech heavy nasdaq index was also hit hard investors meanwhile flooded into so-called safe haven assets like bonds and gold a new cluster of the virus in south korea home to major tech companies and suppliers is adding to the bleak outlook in china where manufacturing output has been crims for weeks. and let's go to our financial correspondent in new york yes quarter for more on this. other markets have long been registering the effect of coronavirus going up recovering going back down why is the u.s. markets why are they just now seeming to notice this or at least taking such a massive hit. there you corrected to a while before. wall street realized what could happen just last week wednesday we

set new records with the nasdaq composite and the s. and p. 500 economists were kind of hopeful that the virus would be contained rather soon so that it looks less likely at this point and there is some concern that some might actually lead into a global recession if that's going to happen clearly nobody knows for sure but it was the 1st real day of pressure here on wall street down by more than a 1000 points down by about 3 and a half percent so we haven't seen anything like that in about 2 years here is it too early to talk about some sort of physical countermeasures to call the fears. well if you look on the fiscal side it will be very difficult for the administration in an election year to get anything done sold the hope lies on the monetary policies so that the federal reserve might be willing to cause interest

rates. other than in other countries the u.s. has some interest rates that theoretically could get lowered if that's going to happen certainly nobody knows for sure but the bets here on wall street that the federal reserve will actually act in the next couple of months are above 50 percent about 60 percent of market discipline some actually even believe that we could see 2 more interest rate cuts by the end of the year so the hope lies on the fed and the 1st big test will be on tuesday where we would see if the market can recover if they see the downturn as a buying opportunity or if pressure increases. quarter with the latest from the markets in new york thank you. now as mentioned south korea is one of those coronavirus hotspots infections are growing around a large cluster of cases or that $800.00 people have now caught the disease the

most in any country outside of china business and local economies are already feeling the pain. the queue goes as far as the eye can see south koreans have been waiting patiently in their hundreds outside of supermarkets like this one to get their hands on protective masks it's particularly important here in the city of daegu where the vast majority of south korea's instances of corona virus have been detected. elsewhere public places like this market in seoul are being urgently disinfected a spike in cases over the past week has driven many people to stay indoors a problem for traders here. i think about 40 to 50 percent of elderly people have stopped coming to the market. i'm worried about the fact that they're disinfecting the place. in the beginning i thought everything would be ok now i'm very worried. and it's not just south korea's traditional markets that are

suffering financial markets have also been shaken by the weekend's rapid rise in cases souls' main kaspi index fell almost 4 percent on monday the south korean government has responded to the health threat by declaring its highest alert level serious it's also planning drastic measures to cope with the financial impact. for one in addition to swiftly deploying the emergency funds set aside the government will consider the drafting of a supplementary budget have to coordinating with parliament. the discovery of a case of coronaviruses samsung smartphone factory in the city of gumi forced the electronics major to announce the closure of the facility some of its employees have placed themselves under voluntary quarantine. meanwhile many south koreans have been using online coronavirus trackers to work out where safe if they do go

out. with cases rising and markets panicking it's no surprise that south koreans are lining up to protect themselves. to look at a nother coronavirus hotspot italy it's the used 3rd largest economy and it's an often fragile one italy's economy shrank last quarter and fears are that the coronavirus could lead to a recession there now the disease cluster there isn't italy's longer the region that's the country's economic heartland a liberty accounts for one 3rd of italy's economy rather it's economic growth and it's responsible for half of italy's exports now northern italy is otherwise suffering venice's famous carnival had to be cancelled early and cafes and hotels there remain empty and that hurts tourism accounts for 13 percent of the italian economy fashion makes up a good 5 percent of g.d.p. and that's also flailing most important fashion shows and design fairs take place in milan again in lombardy and it's the condom is tightly intertwined with other

e.u. countries where italy's borders to close it would be a disaster for all of europe. now the coronavirus has also hit particular brands hard take chinese network here's supplier huawei the virus's challenging suppliers and even forced the company to postpone the launch of its laced latest foldable smartphone the mate access and that's not the only problem facing the new phone while away says the new model won't have the problems that created its 1st generation of folding phone last year. this flex of hinges. is going to be able to be done hundreds of thousands of times over and again and again and again without any concern whatsoever for the flexible display but the u.s. government has been far less flexible with while way it's banned companies including google from working with the chinese tech supplier buyers have to reach

deep into their billfolds for the new phone but for their pay they won't get play google play for many that means it's just not worth it it's very pricey that i call and justify a device like i was going to go. this is very important but if way needs google it seems google also needs while way the company has asked us authorities for permission to work with the world's 2nd biggest phone maker hoping no doubt that the 2 sides can come together in a display of unity. the coronavirus epidemic could put an already tenuous global economic recovery at risk that was the warning from the international monetary fund at a meeting of the g 20 finance ministers in riyadh e.u. economic affairs commissioner paolo jensen lonny said the g 20 was ready to react with pro growth policies meaning more government spending on infrastructure as well as aid for business so many ministers also said they want to keep their monetary

policies loose. now the new coronavirus isn't the only illness putting pressure on european economies the h 5 n 8 bird flu is spreading in eastern europe so far it doesn't infect humans but it can wipe out poultry stocks and also there is a vaccine but it's not being used to look. at the h 5 n 8 bird flu virus is now being found in the zoo in the slovakian holiday resort of . the grounds of the zoo have been quarantined. the birds stuck in their cages the entire premises need disinfecting boy needs a zoo normally gets $40000.00 visitors a year but for weeks it's had no income this is useful can ring is also affected it's wrapped has a grounded they cost as much as $5000.00 euros apiece in some of the full can is in

money with displays for tourists now that income has disappeared as well. we can't travel at the moment at this time of year we're normally out and about with the birds in schools and nurseries we've lost that income stream of. gemini has reported one case of h 5 n 8 it was found in a migrating wild goose in the state of brandenburg. information on the virus is collated at the free trade institute on the boat ixia island every. there is a vaccine against bird flu but it's banned in the e.u. . a vaccination can save the lives of infected birds but it doesn't neutralize the virus which can still be passed on. infected flocks a cult without exception especially farmed. much cari long i know

this because when an infected flock is called really then of course all those birds are lost to the consumer as well as the farmer who didn't from the home to all who did it but if it means the pathogen is eradicated on a particular farm then it has to be of benefit to the wider poultry population go to some unseen and grooved and get them. the current epidemic may be harmless to humans but that's not to say a new version of the virus couldn't image which might prove more dangerous. and that's it for me and the business team to check us out online and dot com slash business i'm so you can barely thanks for watching.

i'm not laughing at them well i guess sometimes i am but most end up in. the german thinks deep into the german culture of looking at the stereotype clad in a single season the country that i now live. pictures grandma. thus it's all about ok. my my job to join me to meet the gentle sunday w. post. i'm scared that the you move.

and in the end is a me you're not allowed to stay here anymore we will send you that. are you familiar with this. with the smugglers we're alliance and. what's your story ready ready. i'm working on is women especially in victims of violence. take part and send us your story train always to understand this new culture. still you are nothing visitor nothing yet you want to become a citizen. in so migrants your platform for reliable information. have fun in pyongyang. the capital city of north korea is reinventing itself but only

a few people can enjoy the benefits. and insidious reward system coerces people into loyalty towards the regime. those who don't make it into the fun metropolis live in poverty. the fun in pyongyang starts february 20th on t.w. . the man who once ruled hollywood is going to prison former film executive harvey weinstein has been convicted of 2 sex crimes including rape the verdict from a new york york court comes more than 2 years after revelations of weinstein's that misconduct prevent propelled at the need to movements against sexual abuse and sexual harassment and so the global spotlight welcome to arts and culture i'm joined by our film reporter scott roxboro. scott what exactly does this verdict

mean for the film industry. well i think this is a real reckoning for the film industry a lot of people within hollywood who are hoping for more serious convictions against whites who might be disappointed by the outcome of this trial but i think the fact that a man who was once so powerful as harvey weinstein was within the film industry i mean this is a man who who had around 81 oscars to his name through through the various productions that he did the fact that a man like that could have been brought down and brought down in this way and will serve jail time for the crimes that he committed suggests that no one is too powerful to to not face justice and i think that's a major shift from just a couple of years ago where the cause.