of the beijing games asked for comment back cited his no politics pledge their position or for the the i you see her must be given the or political or utility of that. we are not her commenting on her political, her issues. as the curtain rises on a beach in olympics, surrounded by political intrigue backs, insistence that they be kept out of the games remains unwavering. as your news update at this hour, stay tuned for the business headlines coming up next with stephen beardsley. and you know there is on our website t, w dot com and play richardson in berlin for me in the team. thanks for joining us with

love on banning things away from that, but i'm not going to have to was my own car and everyone with later holes and every day getting are you ready to meet the german can join me right. just do it on d. w. i, we're interested in the global economy, our portfolio d w business beyond. here's a closer look at the project. our mission. to analyze the fight for market dominance. east this is wes. get a step ahead with the w business beyond on you to ah, mehta crashes on wall street and brings a big chunk of the tech sector down with

a whopping 26 percent loss for the session. that's more than $230000000000.00 in los valued. did the tech giant numbers merited or did they touch a nerve among investors? also on the show stubborn inflation spurs europe central bank to open the door to earlier tightening measures. what are the, these options when energy costs are behind the price hikes and vendors and beijing are going for gold with a lift merchandise, but bracing for disappointment. hello, welcome to the show i'm seeing fiercely and berlin could have you with us. shares of facebook owner meta plunge more than 26 percent trading on thursday, knocking more than $230000000000.00 off the company's market value and pushing tax docs to broad losses. it's the biggest one day fall of any u. s. company on record. chief executive mark, soccer bird had worn investors in a colon wednesday that met it, expected revenues to decline during the 1st quarter of this year, due to competition from rivals such as tick tock. how would you announce that

starting today? our company over now to yann's quarter in new york, yen 26 percent is massive to what he said was this merited. to what extent are investors they're pretty jittery. well, i mean a definitely an incredible, a move that we saw here on a thursday. and if companies are like a netflix or have some a little challenges and heretics reports are obviously walt street at this point, is some showing and all of mercy. i mean with some companies we've seen that was netflix a couple of weeks ago. we saw that was so paypal a just the day prior, we've seen it and now with a meta and so there are some fundamental challenges. so for those companies and there's also something wrong in the earnings. so this is a one explanation, but definitely not the only one. we've already seen it early on this year that there is a certain rotation going on from those textures that have been on an incredible

right in the past to one and a half years more into a cyclical stocks. but that also has had right out. so at this point, there's just a mess of pressure on the stock market and that really shows you those huge swings . also that we're seeing the market is very nervous at this point. yet, briefly, if you can this money that's leaving tech, where is it going well, at this point, not necessarily in other stocks, but for example, in energy i'm, if you look at the oil price, for example, that was up here on thursday by a good 2 percent. and to coil it's a west texas intermediate that's good, straight to your in new york is above the $90.00 mark per barrel for the very 1st time a since 2014. i mean, we've also seen oil stocks profiting from that trend, but that is one sector, at least them, that is some on the upside at this point in court in new york. thank you very much . well,

earlier i spoke with allison and stood allen of international marketing partners in london. and i asked her to what extent facebook's troubles, especially with user numbers and advertising, were a surprise. this is been a slow build up at some point, or rather the users. the commercial model may be of facebook is up for debate. you know, tick tock is eating their lunch in terms of younger users who are abandoning the facebook platform. they're finding more safety perhaps through the other platforms instead of on facebook. so there have been a lot of little incremental things have been going on in that company, not least, it's corporate culture. you know, it wasn't that long ago, only a few months ago. actually that francis hogan was telling all of us about the research facebook had on the impact, the effects psychologically on young girls and younger users of

a facebook which facebook had and even commissioned. so, you know, i think in aggregate these little things have now come together. and we're now seeing a company that hopefully is intro, being a little more interest spectrum and asking itself, how did we get here? and how are we going to get fixed? is there a answer to turning it around in the near to mid term? briefly, if you can very briefly, there's no one magic bullet. it's going to be a combination of things. but the starting point is the culture elson, stewart allen, international marketing partners. thank you very much. thank you. borrowing rates in the euro zone will remain unchanged following a meeting of the see the governing council today. remarks by president christine the guard suggested however, the door was open to taking measures later this year. on the guard warned inflation was likely to persist and decline to rule out of rate hike for 2023. rising energy

costs have driven up prices across the u. growth rates remain slow, however, worrying some economists that hiking rates to soon might be damaging carson. jessica is global head of macro for i and g research carson. you wrote today that look guards, appearance mart, an important hawkiss, hawkish shift. i should say. what did you mean with that? well, the guard actually opened the door to faster a reduction of acid purchases and she opened the door to door rate even this year. so this was an enormous shift in the position of b, which until now has always been more nineties raised area pressure is always told financial markets and european citizens that there was no way that the c, b would start typing a monetary policy. so therefore, today was remarkable. growth is still relatively weak across the u. inflation is tenacious, which as you mentioned, regard,

also referred to as well. those inflation issues. how difficult a tight rope walk is this for the be to know exactly when to begin raising rates? well, it is an enormous tide row because the on the one that they know there is nothing they could do in the short run to bring down inflation. there's nothing the city can do with lower energy costs or would reduce the, the cost for microchips, but they know that they should prepare, that they should withdraw the so called monetary stimulus. and the economy is strong enough by the way, the years and economy has return to pre crisis level at the end of last year. unemployment rates are low, so we might be stronger. but i think there is a point to be made to not oversee relate the economy, and this is what these are trying to do, gradually withdraw stimulus without hurting the economy. there has been this larger debate about the nature of this inflation,

whether it is transitory or not. we've seen that also in the u. s. although, as you mentioned, energy prices so much at the core of inflation here. has this debate in any way abated, or is it only going to continue about the nature of this inflation that we're seeing in europe? why i think we should forget about this story about team trend already versus team permanence. it's nonsense. i think what we see right now is an inflation which is simply driven by the disruption cost, by the pandemic, and the locked outs. and this can continue. of course, it will continue until we finally reached this point at which the economy expect in a new equilibrium. this might be the summer, this might be late this year. this might be 2023. but we should forget about transitory and permanent. what is more important afterwards is, what are the structural factors driving inflation beyond the pandemic impact? and that could be the corporatization, the globalization, and also demographics. and these all argue in favor of somewhat higher inflation

and b, b as well advised to now withdraw for monetary stimulus and, and start considering at least 1st rate hikes. carson, just me. i n g research. thank you very much for the winter olympics in beijing should be a cash cow for local businesses serving spectators athletes. workers. however, the countries resurgence and coven, 1000 cases, and the strong measures put in place to minimize infections have made that unlikely . still, some firms are hoping for a boost at this sports store, just a stone's throw away from baiting sports, nist stadium, rex, filled with winter gear featuring the chinese flick businesses, hoping national pride will help boost sales in the run up to the winter olympics. some good, they say overall it's good, but things may become uncertain. anyway,

now business is mostly done online. the big concern for brick and mortar retailers in particular, is the resurgence of coven 19 that's put the chinese capital. annette authorities have imposed fresh restrictions on people traveling to beijing. visitors need to take a nuclear tests within 72 hours of arriving. organizers of the game also announced last week. the tickets won't go up for sale to the general public. meaning fewer visitors are likely to come, despite not having to rely on foot traffic. online retailers are struggling to government data, showed consumer spending on physical goods, which accounts for the bulk of e commerce grew at its lowest pace on record. in 2021. china's locked downs and other pandemic controls have cast a shadow of a consumer sentiment. and economists sworn that the high transmissible, etc of the armor chron variant means tougher and more frequent colbert restrictions could be in store. recently,

beijing reported its 1st locally transmitted case of the amazon strain as authorities step up efforts to prevent it spread. businesses banking on a boost from the winter games may be left disappointed. still, china is high in the event as a long term driver for growth. at this factory engender cohen her of a province, which will host some of pin competitions. workers churn out about a 1000 pairs of ice gates a day. it's located in the purpose built park for sports equipment, set up in 2018. nearly all of the goods manufactured are exported overseas for city hopes the games will raise its profile as a center for the winter sports industry. and madonna, we're still emerging in the future. we should increase infrastructure and construction strength and investment attraction, and attract and cultivate more industrial projects to settle in the park. despite

the challenges that have come with recent outbreak of coven 19 overall effect, the reproduction in china has remained resilient. but to keep factories like this gliding ahead, they'll need to avoid disruptions brought on by china's tight pandemic restrictions . here's a reminder of the top business story we're falling for you. shares of facebook owner meta plunged more than 26 per cent in trading on thursday, knocking more than $230000000000.00 off the company's market value as the biggest one day fall of any u. s. company on record. and that's it for me. in the dw business team here, bullet, you can find out more about these and other stories online. phoebe dot com slash business. we're also on youtube. under deed of the news likes watching the battle against cove it the only variant is putting healthcare systems around

the world to the test. vaccination campaigns are accelerating while restrictions are intensifying once again. but are these measures enough to stop the spread of omicron fax data and reports cove at 19 special next on d w. p soccer is a sort of many colors. and the children in this mountain village to know them all, pima where's blue? the color of her favorite, tain, but sexist traditions, prevent her from going to games and play an insurmountable obstacle. bloomed girl football on the page. in 45 minutes on d, w. o.

and i think everything jenny, inc fair, some are big amazon. so much different culture between here and there. so challenging for, ah, and is this, i think it was worth it for me to come to germany. i shut my, got my license to work as a swimming instructor here. and they say, now i teach children and adults to swim desktop is to say, hello, what's your story? take part. share it on info, migrant, dot net. ah. mm hm. ah, turkey has developed its own vaccine called took her back. how effective is it?

welcome to this coven 19 special on dw.