has condemned ross's decision to band this network, dw director general pita limbo coal. they've moved by moscow, a total over reaction. i promised legal action rush, i said it was shattering, dw is most call bureau after berlin band, german language programming of rushes, state broadcast a r t do. it's lack of a broadcasting license. that's it for me. and the new steam a don't go away though. cbs, they will have your business update that's coming up, right? are you ready to get with these places in europe are smashing all the records into a bold adventure. just don't lose your grip. it's the treasure map for modern globetrotters. discover some of your groups wykard, breaking sites on google,

youtube and now also in book form blue . what people have to say matters to us. but me, that's why we listen to their stories. reporter every weekend on d. w. o . mehta crashes on wall street and brings a big chunk of the tech sector down with it. a whopping 26 percent loss for the session. that's more than $230000000000.00 in lost value. 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 vi 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, glow, walking to the show, i'm seen fiercely in berlin, could have you with us. shares of facebook owner meta plunged more than 26 percent trading on thursday, knocking more than $230000000000.00 off the company's market value and pushing tech stocks 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 and a call wednesday that matter expected revenues to decline during the 1st quarter of this year, due to competition from rivals such as tick tock. to announce that starting today, our company over now, dns quarter in new york yen 26 percent is massive. to what extent was this merited? to what extent are investors they're pretty jittery. well, i mean, definitely an incredible move that we saw here on thursday. and if companies like

neck fix, have some little challenges in the reports. obviously, wall street at this point is showing no mercy. i mean with some companies, we've seen that with netflix a couple of weeks ago. we saw that with the paypal adjust the day prior. we've seen it now with meta and so there are some fundamental challenges for those companies. and there's also something wrong in the earnings. so this is one explanation, but definitely not the only one we've already seen early on this year, that there is a certain rotation going on from those tech shares that have been on an incredible right in the past one and a half years more into cyclical stocks. but that also and right out, so at this point there's just massive pressure on the stock market. and that really shows you those huge things also that we're seeing the market is very nervous at this point in briefly,

if you can this money that's leaving tech. where's it going well, at this point, not necessarily in other stocks, but for example, in energy. if you look at the price, for example, that was up here on thursday by a good to percent oil. west texas intermediate that gets traded here in new york is about the $90.00 per barrel for the very 1st time since 2014. i me to be all to the oil stocks, profiting from that trend, but that is one tech 2, at least that is on the upside at this part quarter in new york. thank you very much. well, earlier i spoke with allison steward 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 internet 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. allison stewart, allen, international marketing partners. thank you very much. thank you. borrowing rates in the euro's own will remain unchanged. following a meeting of 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 declined to rule out a 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 ship. i should say. what did you mean with that? well, rear guard actually opened the door to a faster reduction of acid purchases and she opened the door to door a time even this year. so this was an enormous shift in the position of the b, which until now has always been more 9 inflationary pressure is always told financial market 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 inflation is tenacious, which as you mentioned, the guard also referred to as well, those inflation issues. how difficult a tightrope walk is this for the c b 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 to be 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

permanent. it's nonsense. i think what we see right now is an inflation we're to 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 in 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 beijing 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 a 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 lock downs and other pandemic controls have cast a shadow of a consumer sentiment and economic swan 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 its 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 and juncture cohen hood

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. the 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, strengthen 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. g, w dot com slash business. we're also on youtube under d. w. news watching for the battle against cove. it the only clue 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. to the point, strong opinions, clear positions, international perspectives, could turkey soaring inflation and plunging currency, bring down the president, sometimes referred to as tesla type for his ability to deflect crisis. economic pain is provoking doubt even among staunch supporters. can turkey survive adder one by down to the point to that point. in 60 minutes gone v w n. o. and one of mankind's oldest ambitions could be within reach or what is it really is possible to reverse researchers

and scientists all over the world are in a race against time. they are peers and rivals with one daring goal to outsmart nature. more life starts february 16th on d, w. d ah, turkey has developed its own vaccine called took him back. how effective is it? welcome to this coven, 19 special on d, w. also on the show julia fagin gives us the rundown on the various corona, virus vaccines. how do they work and how do they differ.