first the u.s. markets join the rest of the global economy and the dow jones is hovering between two and three percent it's the first reaction to the great degree america's credit rating over the week the eurozone crisis is also speaking investors. sort of the story from new york things are heading south in the first minute of trading the dow opened down more than two hundred points within an hour it was down more than three point two percent now that number is going up and down and changing but clearly it indicates a climate of uncertainty in this climate of uncertainty isn't just here in the u.s. but it is all over the world and of course this is this comes after the. downgraded the u.s. credit from aaa to friday evening this is the first time in history the

country of the world's largest economy was kicked out of this triple a club and to sum it up he says syria of course says that the u.s. government needs to get its fiscal house in order following all the drama surrounding the debt deal the credit agency believes that enough has not been done by u.s. lawmakers to to balance its books in addition to all of the political posturing all of the bickering all of the back and forth mudslinging hurt the overall confidence in the u.s. economy that is according to this credit agency and so after we saw that the u.s. credit was downgraded from aaa to doubly what else happened we saw the republicans in the u.s. blame president obama we saw the ministries or the sarah gets of the u.s. administration blame the tea party so the blame game just continued even in the aftermath. the credit of the united states being downgraded right now it's still

it's a climate of uncertainty craney agency said that there is a chance that the u.s. is credit rating could be calibrated even further if the u.s. does not get its fiscal house in order and has not stopped this ongoing process of borrowing and spending. the latest. now that. done almost four percent we'll bring you more of course on the bit later this we cross to the business for the latest figures now looking at europe's top markets they're also in the red the foot sea in london closing down over three percent a brief rally after the european central bank said it would start to buy up spanish and italian government bonds to restore confidence only proved to be short lived your bushels been following the situation in europe from brussels. greece is in big trouble it's fall into a full team year low because if the euro falls as increasing numbers here believe

it could do greece will be first in the firing line in fact there's no fun to be an investor any more than an investor faces must be read like the markets they're down everywhere and what's being dubbed black monday spain's become the latest state a pledge that it will change that it will reform it will get its house in order is that it will slash billions more of public spending but that doesn't help the mood the european central bank i did it will buy up spanish and italian debt something with hormones to buy at the moment that hasn't helped either now the g seven g twenty group of leading economies say that they are working together to control the situation but investors are voting with their feet that's why markets are down investors just don't believe the politicians here just bring you update on that but if you are getting through dow jones that almost four percent three point seven six percent if that's the latest getting through at the moment it's bring in the market petro pollen i was in london after the markets marco from financial wealth

management. a volatile day on the market but no real freefall exactly what you think tomorrow is going to bring more turbulence more trouble. well you say no no freefall but i've been investing clients' money for over thirteen years and it is quite rare to have a period like we've had over the last week it has been a a severe battering. now when everybody is on one side of the trade you tend to get sharp fall back so things may carry on going south for the next couple of days but then there's likely to be. a bit of a pullback but over over the next sort of six twelve eighteen months my view is still bearish with we're short and we've been short for a long time on on equities and there's a lot of issues that need to be sorted out and i can't see how they're going to be sorted out in the near term and it's very difficult to see where the growth is going to come from moving forward so in the absence of of actually any positives.

the trend may well continue to be down for for some time so does the world need to break away from this dependence on the u.s. economy is that the way forward is that the goal is that the great palace here. will of course of course. the next biggest economy now the chinese they have to. restructure their economy they have to get away from their export based economy to more internal mount they can do that by creating some degree of welfare state so therefore the chinese don't need to save so much money you can spend more but it's very difficult to see how that can happen in the near term that's a transition that may well take ten to twenty years for that to happen there simply isn't the internal demand in the emerging markets to take up the slack from you know very sluggish growth in in the developed world market what i look at are the

dollars reputations taken a good knock here specially as a reserve currency when china's very suggested a new reserve currency is that idea feasible though. well i've been calling for the dollar to capitulate for a number of years and i don't think we're right there yet i think that the dollar will eventually move away as the reserve currency has to happen and of course. a new a new set up will have to be formed the problem is that when when the pound lost the reserve status and it moved towards the toward the dollar that was cemented in bretton woods in nineteen forty eight. it was a natural successor to the pound and the problem that we have now present is there is no. no currency there's a natural successor to the dollar there's talk about using the i.m.f. as the our system as potentially

a global currency but it's very difficult to see how everybody can sit around the table with all their different interests and the politics that there are and actually come up with a solution on a sort of g. twenty level and create a new reserve currency and even if you do do that the transition may well be extremely painful unless it's managed in a very appropriate way mark a brief you talked about the us who talk where the dollar as a reserve currency let's focus on europe and the euro now europe facing its debt contagion bailout after bailout do you think the eurozone will survive this. not in its current form and i've been saying that for some time it can't survive in its current form the way that most countries operate is that for example in the in england the southeast which is the richest part of the u.k. subsidizes the poorest parts like the northeast of england like south wales unless the germans are prepared to write an open check to the country and to anybody that

has problems moving forward to carry on subsidising it simply isn't isn't going to happen and it's unsustainable so you can't have a sustainable monetary union without fiscal and political union which hasn't happened the only other solution is a break up of the euro which is probably looking more likely marco pierre de paulo financial advisor to our own wealth management in london always good to have your thoughts on the program expert as you are things being with us but right now art is business desk keeping a close watch of course on the world markets to be loose here we'll get the full bulletin from you in about ten fifteen minutes but just briefly is the nosedive of the markets getting worse i'm afraid it is kevin right now the dow jones is down three point eight percent i just saw it go below eleven thousand points a psychological fresh hold over we're actually seeing record lows pretty much all over the short russian market fell to a record low in three years i mean

a record drop in three years one day a drop of seven point eight percent on the r.t.s. oil as a one year low gold is at an all time high i'll tell you all about that in just a moment or thanks to me we'll be seeing you very shortly. to our other breaking news this hour another round of riots in london tonight there's been trouble all weekend and there's more right now a groups of user question with police in hackney in the northeast of the city and also more recently in lewisham in the south it follows an arrest as i mentioned over the weekend after a man was shot dead by police while we take a look at these latest lived. pictures coming through let's cross to oxys i have a bennett he's in the british capital for us either either although earlier tonight when i spoke to you we were witnessing disturbance in northeast london in hackney now reports tonight of trouble too in south london in lewisham what we've got for us. riots are continuing to spread even as late as this evening and this is now the third day in a row that that's been happening across the city and each time it's

a new location that's affected the latest as you just said is lewisham which is in the south of the city really the other end of london to tottenham which is where the initial unrest took place on saturday night and what pictures we've seen there is of two vehicles of just being set on set alight riot police have been deployed there in lewisham in south london we don't know yet i don't have any figures on a number of arrests if any that have been made there but the worst action the most severe unrest that took place today was in hackney in the north east of london again another area that was previously unaffected until until today what was happening there was looters groups of people swarming the main high streets there smashing windows ransacking shops in some cases stealing and looting merchandise things like t. shirts trainers in other cases just laying their hands on whatever they could to hurl at the police as missiles chairs wouldn't liens and planks of lorries even

police riot police in the area trying to control the situation by forming a human line across the street and charging at the right front of them down one area but the problem they're facing is that once they control one street another pocket of violence erupts in another street and reports around this evening saying that the writers are actually caught in a tin ear if it's using blackberry instant messaging via mobile phones now that differs to twitter where twitter is public. this is private messaging so groups can coordinate their movements privately and that's their head of the police. over or just give us more information through spring obviously taken extremely seriously where in the london's mayor boris johnson is cut short he's someone holiday to return to the capital as more than two hundred have been arrested and thirty five officers injured are also hearing as well earlier on today the. secretaries of may return early from her holiday to meet acting police commissioner tim goodwin and

other senior officers to try and stem what's going on here the catalyst for it was the shooting the the catalyst for what happened the beginning of the weekend anyway with the shooting of this twenty nine year old man is that the catalyst for everything else that's going on. well no that's not really the case as that's what's been suggested by police chiefs as they said saturday night catholics was the fatal shooting by police of mark duggan earlier in the week twenty nine year old man in tottenham. was supposedly a peaceful process on the police station there erupted into violence widespread looting and. scenes that looked like a war zone really building set on fire they said widespread looting police officers injured what's happened since then though is pockets of violence of sprung up elsewhere across the city in various parts last i further north in enfield also in the south london in brixton today also in hackney in lewisham various parts

throughout the city and what's been suggested by police chiefs is that this is copycat violence that's the phrase they're using and suggesting people just jumping on the bandwagon really using this excuse also they've seen other people getting hold of fifteen inch screen t.v.'s and it's their suggestion that people just want to a piece of the action as well they're calling it copycat violence by opportunist criminals . which keep online from it we want to bring you the latest pictures we're getting through now from. the. police or a. you see helicopters out there it's very wide shots they're showing at the moment i was hoping they might be able to focus in on some of the streets there where we're seeing the trouble losing the car earlier on just in the distance there the shots were saying full screen now you can see some smoke rising on the horizon the shots from the area of london which is south london as to say we don't know an awful lot more about that at the moment these pictures are

a little bit sketchy the pictures that we saw earlier on from our copters when we're taking a look at what was happening in hackney showed police officer at one point charging across a supermarket car park. a lot of police on the street so here. up to a two hundred officers were there have to say these are the best pictures we've got i'm afraid the moment they are live coming through you can see what looks like smoke on the horizon there is a burning car we definitely saw that earlier on so we get more details but of course bring you up to date on this developing news story where there is once again tonight developing trouble on the streets of london first of all going to the weekend it was in tottenham then it moved northeast earlier today to me as i've just been mentioning and then in the last few hours we know seeing trouble on the streets as well in south london in the. so as we get more we will bring you up to date. now to find out what may be forcing rises out of the streets for the third

night running let's catch up with nathan joined he's from a young person's charity youth in like limited mr jones thanks ever so much for being on our to internationalise very much appreciate you taking the time i mean are these riots really because of the police shooting i was just talking about to our correspondent ivan just now or was that just a trigger for wider public discontent to turn violent. these riots are really coming off the back of years of communities being ignored communities being handled incorrectly by the police the market the market the gun was for me a tipping point it was you know the icing on the cake and we've seen so many different examples like this over the last few months over the last few years and i think people have had enough now and are taking to the streets but over the last few days what we've seen is a lot of copycat criminals coming forward and just trying to make use of this opportunity to to get free goods from shops. and they get this straight you want

condoning any of this violent action at all you. but you can't condone this you know ordinary people's lives are being turned upside down homes have been lost i don't condone this in any way the one thing i do condone is the fact that young people are making a stand but they did it in a wrong way and this is actually doing more damage to the work to organizations that mine has done to champion young people is doing more damage to their communities is doing more damage to the futures but what they're pretty much trying to say in my eyes. you can't ignore it any longer there's issues that need to be addressed regardless of what's going on in the financial markets or in the world countries you need to focus on us ok what do you think the police seem at this point anyway so are they able to try and stem what's going on what we're witnessing what we witnessed over the over the weekend. yeah the police wasn't prepared for

this whatsoever. you know when. the stop was just started to come back on our streets they were told there be a backlash and nothing happened this similar incidents of happened where people have been murdered in suspicious circumstances nothing happened and i think they just expected this to be another time where nothing was going to happen but unfortunately something has happened and it's spreading for our capital and it's going to continue to spread because there's a lot of hatred there's a lot of tension that's been building up that need to come out it's coming out in a wrong way right now but we have to deal with this and we have to learn from it and make sure that something like this doesn't happen again are you surprised at the level of coordination that there appears to be in the into the. unfairly surprise i've heard of occasions for instance in tottenham where there's issues of gangs have been issue for gangs for many years and they've said look tonight let's put aside our differences let's join together for a loop and i'm amazed by that as

a shame they didn't do that under different circumstances social media's played a massive part in this people leaving messages saying he wants a free telly and it's really driving and fuel in the fire on the file and the rioting and i think we've got your take on i just like to really ask you know because we're of course based over here in moscow it's difficult to get a feel that we are seeing the pictures difficult to get a feeling of what it what it's really like to be living in london right now what's the average londoner on the street saying about this we take it what you're saying the people have got their most about what's happening they're very concerned about it but i'm thinking about the people whose cars are being burned whose business is being looted what's the reaction you get from other londoners it's a sad it's a sad time for i live in lucia myself and i'm watching this the argument to go out tonight with my family we can so that because. frankly we don't feel safe

livelihoods have been lost property has been stolen damage you know this is really a dark time for for london and i think it's more than the buildings are being charged but i think the london spirit of london pride has also been charred and frankly i see as an embarrassment as a capital that london planning for the olympics can't get it to go over you know of course is coming so close and some of these are right so close to that and you really pick village the stadium as well well thanks ever so much for the program nathan john chief executive officer of youth in light limited take care. well obviously with r.t. for the very latest developments from the british capital artie's i have a bennett our correspondent there will be updating you on the london riots every hour these are the latest live pictures coming through. yet to be clarified where these are we're saying london on the screen or maybe the production gallery can tell you where these are actually from all whether they're from hackney what anyway

they are the latest shots we're not totally clear ourselves or you can see a vehicle or a building on fire there very disturbing scenes throughout parts of london tonight in the northeast and the south. three years ago georgia launched an attack on the people of the south the small republic of south of setia the five day war in which georgia tried to reclaim its old territories claimed hundreds of innocent lives that is indeed a coach universe in the south are set in capital a city still struggling to come to terms with its losses. attacks suddenly around midnight and the first trikes happen hand of the russian piss keeping base and now what you can see behind me what's left of that space there were around two hundred fifty soldiers and they forced almost waiting for the russian troops to iraq russia stand in troops to protect the republic citizens many of which were russian passport holders and we also were hiding in basements and bonet out buildings

overhand twenty three soldiers were killed and many injured and some we managed to talk to they told us that they want to keep this building untouched and of the memory of what happened han meanwhile the morial service began last night and so will be held throughout the day when he starts at eleven thirty five pm that's exactly the time when george or open fly over the such hundreds of people came last night to light candles and to pray for those who were killed three years ago in a brief but destructive conflict many came with a small children people were listening to the rag room and they also released white balloons into the sky and the memory of what happened three years ago the wall lost its will follow days but hundreds were killed and many. was mostly destroyed. and as all of the face of the city has changed within these years still the locals

are trying to restore their lives and we managed to speak to some of them who are still struggling to bring their lives back to normal. i come here almost every day. and talk to my son. next to my dear boy. for the last three years. has come to this cemetery where her son is. split her life into a before and after. when her son a medical college graduates. heard the republic's capital teen vall was under attack from georgia he rushed home to help the injured he died in her arms as they lay trapped for days on to the rubble of their apartment block that was in the georgian alterian is firing line. the only thing that makes her life worth living now is her twenty year old daughter

they now live together in a newly built house to rounded by families with similar tragic stories. here in this area where we're live with specially built to those families who lost loved ones and were left with nothing in the touts across the street lives of women who lost two children and to the house opposite lives a man who lost both his wife and his child. all these people are victims of georgia's military aggression in august two thousand and eight when you try to retake control of the downed breakaway republic of south ossetia a russian peacekeeping mission in the region also came under fire nursed my abuse dive i was on duty with them and witnessed average thing that happened that night for i saw him violent fire when you know it was going to be our last night but was still carried out peacekeeping mission and tried to be calm. most cool sound

trained force men to protect its citizens and prevent more civilian deaths within five days georgian troops had been repelled three weeks later russia recognize the status independence. the last three years have changed the face of this thursday i new residential air where new roads jobs and have been burst and have been built . but still signs of the conflict remain behind my back i got all that's left of the russian peacekeeping poles. for those who lived through the horrors of the brief but dadley conflict the memories are still valuable. much in the question will i see reporting from teen vul south or saturday. and want to find out more about this story got more on the devastation of the south or set in conflict than the problems that cause for people's lives in our special documentary coming up in just a few minutes time tonight on r.t. now that surgery started twenty six minutes past ten pm time is catch up with

dmitri medvedev is back with the details of a very tough days trading on the world market. just looking at the latest figures on the dow down five hundred fifty points or almost five percent we'll have more details in just a second russian markets took an enormous beating on monday the r.t.s. was down almost eight percent to my six five and a half this is the biggest one day fall in three years the reverses have been mirror the markets around the world traders have been reacting to the downgrade of american debt on friday and concerns over europe's ability to get out of its debt mess the situation is clearing nothing short of a panic we have seen somewhat panicky moods in the market last week and luckily we had forty eight hours today just the s. and p. downgrade over the weekend we've seen quite volatile session this morning expectedly the market open quite sharply down dead recuperated parts part of the

losses in the closing still lower and especially this is a cross the blue chip universe which is the easiest to get rid of and we have so we have what we observe at the moment in terms of trying to pivot to his we see hedge funds trying to get in the blue chip names and all these situations trying to pick up some value plays in the second tier universe. or a secular good more detail what was moving the russian mob kids. down more than ten percent in just one day this burbank the most liquid stocks six point three percent one of the few stocks which was gaining. gold point two percent on higher gold prices in the u.s. as i said just mentioned earlier dow jones off almost five percent five hundred points five hundred fifty points to be exact president obama has expressed hope credit downgrade that we've seen from samples will give urgency to solving problems in the country. because of the closing picture for europe not rosy over the tall

foot see them free. and four percent backs more than five percent that's despite its pledge from the european central bank to buy back solver in their bones. and gold is setting new record highs every minute pretty much seven hundred nineteen dollars forty cents pro-choice and silver is also up almost three percent. and finally oil prices are seeing their lowest level in more than a year eighty three dollars for light sweet one hundred five grand no confidence in the markets as the world's largest oil consumer sees its that downgraded future demand isn't the question. headlines the next.

for the full story we've got. the biggest issues get human voice face to face with the news makers.

around the world this is our thank you for being with us. top stories tonight global markets u.s. stocks head south in the first trading session of america's credit downgrade it comes on top of volatile trading elsewhere in the world as well thanks to the spreading european debt crisis. in the u.k. in london except for another round of riots clashes tonight between humans and police in the. violence across the city. the war stories three years after george of the south are set to talk to those who bear the scars of a conflict about how they rebuild their lives. next to the changes sweep through the arab world some countries of it easier to doubt than others iraq's foreign minister speaks to us about how the revolutions in the region have been positive for him.