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this is boom bust the one business show you can't afford to miss branch of war in washington coming up markets in the united states and around the world continue to slump as global kovan 1000 cases are surging straight ahead as we bring you up to speed on the scary week for equities and where we stand with the global cases and this comes as the eurozone has reported a bump in economic activity but the spike in cases could threaten that growth later

on we dig into the numbers and what toll new lock downs could have with a packed show today so let's add right in. and we leave the program with global markets as concern over the latest wave of covert 19 related lock downs in europe and the upcoming presidential election in the united states are creating an uptick in volatility this week's selloff was one of the worst since march when coronavirus fears set in throughout the globe so let's go ahead and take a look and see where markets ended up on the week starting in russia the mo x. is down for the week the index reported 3rd quarter results with record fee income from the money market and depository and settlement services the f. and c. income came in at an all time high for the 3rd quarter in a row but the global selloff still took a toll on the market moving to asia the shanghai composite is in the red for the week mostly dragged down after apple suppliers in asia fell on friday with that

a nearly 1.5 percent decline food and beverage firms followed slower profit growth in the 3rd quarter and the blue chips c.s.i. $300.00 index and did 1.6 percent lower in hong kong the hung sank it is also in the red this week reaching its lowest level since october 20th following us 2nd. now one positive h.s.b.c. shares soared nearly 5 percent earlier this week as it reported a higher than expected 3rd quarter pretax profit in japan the nikkei it's also in the red posting its biggest weekly loss in 3 months mixed earnings rising coronavirus cases and uncertainty over the u.s. presidential election weighed heavily on sentiment moving to india the sensex it's also down this week the index was dragged by losses in banks fast moving consumer goods and autos amid the selloff in global markets the nifty was also lower due to falling bank and financial stocks in australia it's following similar trends in the

red with its worst week since april wiping out those early october gains on the other hand am shares soared nearly 20 percent after the firm announced friday it received a conditional takeover offer from areas management in south africa we see another red arrow for the all share on that global sell off miners and banks really drag down this index now we're going to move to europe and the americas were basically seeing the same trends you're not going to see a green arrow this week in london the footsie it plummeted this week to its lowest level since april this despite the euro zone beating expectations for its 3rd quarter g.d.p. expansion to 12.7 percent something we're going to discuss later in the program european leaders kind of play one month lockdowns on rising coppa 19 numbers so that's something we're going to keep an eye on as well the german dax and the french both finished in the red the european central bank hinted that further stimulus while leaving rates unchanged even on that positive g.d.p. data the indices remained flat as investors are the presidential election here in

the united states and brazil the best but it's also in the red this week down more than 5 percent 5 percent to excuse me concerns over the global coronavirus numbers remain high the biggest losers this week and all year have been airlines and tourism sectors in. brazil in mexico the b.m.v. following same trends it is in the red this week despite 3rd quarter results that showed a 12 percent g.d.p. increase over 1000 lockdowns in europe and that presidential election there just weighing down sentiment pretty much worldwide moving here to the united states all 3 major indices the dow the s. and p. and the nasdaq they are down this week the dow had one of its worst week since march on a sharp twitter and apple shares sell off at the end of the week despite better than expected 3rd quarter g.d.p. results investors are concerned about record spikes in covert $1000.00 cases as were just days from those presidential elections finally in canada the t.s.a. it is also down despite some gains on thursday's futures slid on friday ahead of

worse than expected economic growth materials energy technology and financials all led the losses in canada and as we tracked those record numbers of new coping 1000 cases and the presidential election early next week we will be following global market reaction and that is your global market walk. and for more on this terrible week in equities let's bring in boom bust co-host christine to break it all down kristie now we had a pretty decent tech earnings wednesday but that failed thursday for that matter but that failed to impress the market as all of them are trading lower friday what's going on kristie. so we have remarked on this yesterday saying that the market is showing some signs of a tape here that it has good earnings but they aren't getting bought and so getting sold so it's all this kind of last quarter to indicate that there is a lack of appetite in the market and a lack of confidence in this rally so we had shares of twitter facebook amazon and

apple are trading lower friday despite some decent news apple shares are getting punished despite beating wall street expectations as a didn't offer any 14 guidance i reported a 20 percent year over year decline in i phone sales amazon on the other hand they tried to use a message with some sort of guidance for the 4th quarter which is basically better than nothing i guess so it went wide giving a range between $112000000000.00 to $121000000000.00 for sales but analysts aren't buying that trick as that's also getting sold so guidance and forecast are main challenges for management not wanting to sound too downbeat facebook also had about 2 percent as that warned of a tougher 2021 and alphabet that remained the only only bright spot but that pop is getting faded quickly too and now 84 percent of the s. and p. $500.00 companies they've been estimates for earnings now overall profit is expected to tumble about 13.4 percent from a year ago so short term risk appetite that firmly in the negative territory now you know kristie amid this week that is the worst since the march selloff the vix

fear gauge is actually spiking again friday not near where we were nearly as high as we were back in march what does this tell us about miniature market sentiment. so it's getting really close to a critical level now so today is only to true under the 3rd time that the vix has closed over $0.40 and next launched back in 1990 so it starts getting really dicey is a 44 mark which is 3 standard deviations away from a we're getting really close to it now so we always say that ask president does not indicate future performance we can however take you take away from the past so history has shown that 94 percent of the our nations act in 1990 when the vix closed above 44 that just occurred 2 times in history in the 200-2009 the 2020 period so when the vix 1st calls over 404044 back in 2008 that resulted in a drawdown in the s. and p.

that didn't recover for about 18 months and so now we're potentially looking at the same set up of the u.s. elections next week so there's a real lack of clarity about how this we'll economy is doing especially if the outlook is changing by the day we have more potential lock downs coming little to no growth in g.d.p. for 4 q. and not much in terms of labor market recovery either so while more fiscal stimulus will surely come and we will see the market rally off again for now in the near term at least the vix is signaling for some massive uncertainty and volatility there kristie i mean does this continue into next week as we look at that presidential election do we see that sell off continue monday and tuesday while we await the vote and then maybe miraculously everything calms down on wednesday or does it could be or do we just everything got to go back to normal on monday. well current events and next right now we are looking at more volatility is going into the elections and potentially even after because there are a lot of analysts estimates are predicting that this is going to be

a prolonged election that this is not going to be a cut and dry and on november 3rd and then the market according to whatever results we get there is going to be a period of ambiguity and uncertainty because there is a very high probability of a prolonged protracted election. kristie there was a halt in the algos briefly in the sell off however things kind of picked up at the end of the day losing another $150.00 points at the end of trading on friday what triggered that halt in the sell off. so by now we know that the algos basically drive the market one way or the other so just after around 11 o'clock this morning as stocks were at their morning session lows the fed stepped out to stop the rot announcing that the fed would further use some terms and its mainstream lending program targeting smaller businesses so this stem the bleeding somewhat at the very least stop the dumping this morning the fed's announcement today now adjust the terms of mainstream lending in 2 important ways to better support small businesses

so 1st the minimum moen sizes for borrowers that has been reduced from 252-500-0210 extension 0000 the fees have been adjusted to encourage the provisions of the smaller lots and secondly the board to parma the treasury there clarifying that the paycheck protection program loans up to 2000000 may be excluded from burra debt if certain terms and requirements are met so that should also help smaller businesses access main street loans as we're getting into 4 q. as we're getting are seeing these spikes in coronaviruses again so we've seen this ackerley this year as these new press releases they work to act as a temporary band-aid to stem the market bleeding and basically buy some more time until a substantial package gets done so we will see that happen as we bounce off the session lows as the news that got digest among the traders they all realize that this is kind of a nothing burger nothing really game changing so that bounce got quickly sold off as we got to market close you know kristie despite this sell off in equities

a lot gets in for the worst week since march because it's actually still having its holding pretty steady there's a tire week above $10000.00 a how is that looking right now. quite is increasingly starting to look like a safety asset and a safe haven as we've been saying it's getting more and more support from institutional and mainstream users so we talk about pay pal's foray into big point initially that drove this rally but i think the proof is here as we had a very very nasty week in equities land but everything was quite stable and crypto correlation is completely broken at this point so now more and more public companies will be turning a big point as an inflation hedge as many already have so following the $425000000.00 purchase by micro strategy as its treasury observe asset its c.e.o. michael saylor revealed that he personally owns about another $240000000.00. and shares the best part actually and analysts recently pointed out that micro strategy has earned $78000000.00 in the last 3.5 years from their business operations but

micro study just earned about 100000000 in basically the last 2 months i'm just there between purchases a lot so think about that as a point gets increasingly accepted as a store of value it's going to outpace even gold them by us co-host christiane we saw our perk up when we saw how much money could be made with bitcoin thank you so much for that insight today. thank you. global call the 19 cases had a huge single day milestone this week reaching half a 1000000 for the 1st time on wednesday daily cases of the virus have risen nearly 25 percent in less than 2 weeks as europe and the americas continue to see this spike so with this in mind let's go ahead and take another look at the trends in the spread of the virus globally with our chief correspondent science editor so i will always try to sort of read the global coronavirus hoyle right now it stands at over 45000000 cases and about 1190000 deaths now are europe north america

and latin america are account for about a 66 percent of global cases and over 76 percent of global that's now the u.s. they and they lead the world and number of cases and as we nearly 234000 deaths combined now the u.s. has also said yet another pandemic record with more than 90000 cases in a single day on thursday now in fact as quoted i think cases of actually been increasing across the country as the fasces rate since the start of the pandemic bread now take a look at this map right here right now every single state here every single state in the united stats states except how why he has recorded higher cases compared to 7 days ago while 35 other states they've just recorded a record number of new cases in a single day and now here's another frightening number so while the world health

organization w.h.o. they advise governments to maintain positivity rate or at 5 percent or lower some states like south dakota they have 849 percent positivity rate meaning one out of 2 people who get tested in that state are coming back with a positive test result now that they're also up a 16 percent compared to last. this week and some of the numbers are just really shocking right now wyoming has a 650 percent spike in coping 1000 deaths think about it 650 percent up new mexico up 78 percent south dakota they're up 75 percent now taking a look globally what's happening right now here are some of the latest data now india is right now the 2nd worst affected country and they're reporting about 50000 cases a day now it looks like it's going down a little bit but that's just not enough because again they're reporting over 50000

cases a day but still the good news is they're desperate it still remains some of the lowest specially given their very large population now brazil on the other hand they have the 2nd deadliest outbreak as a virus after the u.s. and has reported more than 159000 as now they also have the 3rd highest number of infection as 5500000 next to the u.s. and india and meanwhile on thursday brazilian president abbas and narrow it was been a longtime critic of a nationwide lockdown has said that it was crazy for countries like france and germany to start locking down again to control the virus now russia at the moment has the world's 4th highest number of cases after the us india and brazil now they have recorded about 27000 cases on thursday while authorities have now made face max mandatory in all places and russia now meanwhile russia continues testing their

corn a virus vaccine known as good in a greedy and russian president vladimir putin announced on thursday that russia was facing challenges increasing their production due to pop lums with a quid then a bell ability but a hope to start mass vaccinations by the end of this year now lastly in the middle east iran is the most fact. they called the 19 contrie and there were porting one death every 3 men at cell lots going on there bryant r t correspondent sites have injured thank you for keeping us up to date. and time now for a quick break but hang here because when we return the euro zone has seen a major rebound in q 3 but is it enough to weather the new spike in co but 19 cases in the region straight ahead we've filed through the numbers and what they need to pull one of the world's hardest hit areas as we go to break here are the numbers that put.

an entire village in alaska. if another country trying to wipe out an american. we do everything i. wanted a escaping. climate change this is the same. alaska seems some of the finest just coastal erosion in the. last about 30 feet. 35 feet of ground in just about 3 months while we were measuring. and the river is. closer. than it was. as they were part of the 1st from the crowd.

and welcome back some good new economic news for european nations as g.d.p. for the eurozone it surged nearly. 13 percent quarter for quarter this comes largely from european nations which saw the largest lockdowns in europe over the summer joining us now to break it all about is going bust co-host ben swan ben thanks for following this story are these numbers surprising considering how much the euro zone dropped in the 2nd quarter of this year i don't think they're that surprising i mean if you consider exactly what you just said in the 2nd quarter we're talking about being down 11.8 percent for most of the eurozone in the 2nd quarter so to see it come back in the 3rd quarter is not really very surprising as

you just said about 13 percent is what it went up now analysts had predicted it would only come back about 9 percent so it's positive in that respect it's interesting though the countries this is happening in primarily france italy and spain all registered quarterly growth between 16 and 18 percent respectively for those 3 countries so that's pretty significant and that's where a lot of that growth came from and outside into consideration fears of a 2nd wave bearer ports that the e.c. could go all in for a new stimulus package come december what do we know about that yeah that's that's kind of an interesting idea here so you know the last kind of p p p that's what they call their stimulus program in the eurozone they came out it did last until the in the view. will last into the end of june of 2021 it totals about $1.00 trillion euros that's about $1510000000.00 right that they've already passed the expectation is that stimulus will be around but if there is a 2nd wave of coronavirus and a 2nd wave of lockdowns across europe then the e.c.b.

expects that it will probably push for even more stimulus because the big question here remember brant a few months ago now when we were covering the fight in europe over the stimulus packages right you had countries like germany and france that were demanding them and then you had these countries in the northern part of europe that were resistant to what they were called the frugal 4 and then called the frugal 5 and it was sweden and norway and denmark though. those countries did not want to see stimulus the 1st time around they were very very hesitant to do it the idea of getting a 2nd round of stimulus at this size past i think would be pretty difficult it would at least make for a pretty long fight. there's further economic pain on the horizon here for european countries as france and germany and now it's new nationwide lockdowns and other governments are considering to do the same so what we put the good news off the top but there was economic expansion we talk about the exact same thing thursday in the united states we saw economic expansion after a huge contraction with this translate into bad economic news say around january

when we see those q 4 numbers well that's what it really comes down to it really comes down to what happens over the next 60 days 90 days because if there is a 2nd wave germany and france as you said the 2 really 2 of the biggest economies in all of europe are now instituting new lockdown measures it's not just a if it is a now happening scenario in those countries and we're talking about you know is shutting down businesses once again closing down restaurants you have businesses that have already failed you have some that barely hung on to that expected failed this time around the other thing that's pretty interesting here is that these these increased lockdowns are coming at a time after a statement by the w.h.o. the world health organization that essentially says that in the event that we've already seen those lockouts take place as we begin to look at the aftermath of them the w.h.o. says well that those lockdowns globally may have doubled global poverty that's

a huge deal that's a very important deal so when these countries like germany or france are now saying we're going to reinstitute lockdowns you have to look at the economic cost that goes with that because it's not just we see economic cost it's not just about dollars and cents of it's about people's livelihoods it's about the ability of people to be able to take care of their families and this is a global problem so to be interesting to see whether or not germany and france get much push back germany's already had a lot of protests about their. down so far it what are leaders saying in european countries about these new lockdown that are being instituted and their effect on the economy are we hearing anything from them well i think right now what they're saying is it's a necessary precaution again to protect the public but who is protecting the public from the lockdowns i guess that becomes a serious question here right i'm not a money even saying that in any kind of loose way i think that's a very legitimate question here you know trump likes to say the solution can't be worse than the problem but let's talk about that in terms of economic terms there is a reality here that the lockdowns that we've seen what we've seen in terms of the loss

of jobs of business is the ruin of economy and as the w.h.o. said the doubling of global poverty is that a result of coronavirus or is that the result of government rules and regulations associated with the coronavirus if it didn't work over the last few months and we're still seeing 2nd waves you have to rethink some of these strategies and the long term effect that they will have on people living again in europe in the united states in australia in new zealand we're seeing that a lot of places and we have to look at what is the ultimate cost of these decisions and when we look at the economic expansion obviously like you said if we're looking at lockdowns there's a likelihood that we're going to see economic contraction in the next quarter or so are we going to see it more of a w. shaped recovery than we are that veer you that they may have been talking about before worldwide yeah i think i think we certainly might have been it really comes down to what are the steps that are taken over the next few months as i said we may

absolutely see a recovery looks like it's coming back then as it drops again and then the other question becomes this how long does this go on does it last all the way through the winter are we talking about going into the spring and then do we start to see a recovery only to have it come back again in the fall of next year does this become a similar permanent status for world economies to shut down reopen shut down because as you know brant. there's no real talk here of coronavirus go in a way it's almost being treated as if it's going to become like the seasonal flu where every season we have to deal with it and that is the case how do world economy survive that at all that's a major question that's looming well with all the discussion about proliferation of a back seat and they're going to be keeping an eye on that to maybe eradicated or at least slow a heavily boom bust co-host ben swan thanks for breaking it all down for us thanks brooke. and finally while video streaming services like netflix and hulu thrived at the start of the pandemic music streaming platform suffered as people were forced

to work from home and no longer needed tunes to get them through their morning commutes but things are starting to look up as spotify and out they've added more subscribers than expected in the 3rd quarter of this year surging past $300000000.00 total users worldwide double that of its top rival apple music in fact the music streaming giant said thursday all of its regions had fully recovered from the pandemic paint much of this is due to the company's expansion in india and russia which they say was very successful spotify added that global listening hours had eclipse prepaying demick levels with users once again tuning in to music and listening to more pod casts and that's it for this time you can catch a boom bust on the man in the brand new portable t.v. app which is available on smartphones and tablets through a play and the apple app store by searching portable t.v. for the t.v. can also be downloaded on newer models samsung smart t.v.'s as well as roku devices or simply check it out at portable dot t.v.

we'll see you next time. in the 1920 s. and thirty's several 100 african-americans moved to the soviet union and many of the descendants still live in russia. those that don't know now let's. just be truthful on things. like american suffered from racism and a complete lack of respect. that's not the sum of the deal and i'm the illusions one by elsa still on. so they decided to leave everything behind. and start a new life in a country about which they knew almost nothing at all some of the. ground

great crowd. if you will go into foreclosure you. know almost a 100 years later the history is repeating itself my great grandfather george time i went to russia. probable worst. to go anywhere why not me. what if i come here. was a pandemic no certainly no borders i'm just blind to nationalities. has emerged we caught up with the we don't have the facts in the whole world needs to be. judged as commentary crisis

with this system to modern times we can do better we should. everyone is contributing each of our own way but we also know that this crisis will not go on forever the challenges created with the response has been much so many good people are helping us. it makes us feel very proud that we are in it together . the way up even with the white. house. in the swamp on how you would think if the phone. doesn't end. up top that call $1800.00 man.

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