it could get messy, the open -- let's get it for you with caroline hyde. caroline: this could be brutal -- $5 trillion so far wiped off market value since the devaluation happened in china. the worst week for the stocks. for four years. the dax -- 18% off previous highs, which means we will probably be entering bear market territory today. cap is falling by 3.5% -- this is painful if you are along with these equity markets. but it's not just europe -- this is the middle east, asia, across the board where we are seeing the selloff's. -- selloffs. the euro is gaining strength, gaining momentum as the dollar falls lower. the bets are off when it comes to the federal rate reserve hike. many are feeling that lists in september will be have -- will have less than 30% chance. december, we are likely to see 55% chance of a rate hike, that is what the market is factoring in. people are delaying the federal reserve hiked because wha of wht is happening. keep an eye on some of these emerging-market currencies, because we are seeing the selloff continuing. the south af

points.res down 122 a lot ot talk about caroline hyde has your european market open. caroline: we will see how they open. we expect them to trade lower a second day down they go. the biggest move in the yuan in 21 years. seeing devaluation, the market getting more of a say in whether currency goes. the emerging markets give it the thumbs down. it is a selloff, europe sells off, cap 40 up by .9%. we will see -- greece opened at half past the hour. germany potentially dragging its heels over this bailout. will they get the money and time for august the 20th? we wait for germany's open, but big hits coming to the automakers in germany. look what it is doing to commodities. depreciates, there is less desire to be importing. copper up by .4%. check out what happened to the yuan. this is the dollar higher, the yuan lower. almost a 2% selloff in terms of the current for -- currency. look at what it has on the rest of the foreign currency. the dollar is up, the malaysian dollar -- currency falls off. look what it did to the sycamore currency, down. u.s. dollar up. clearly, thi

let's get the market open with caroline hyde. caroline: two days of a selloff on the stoxx 600. we are likely to see stocks get that nudge higher, shrugging off the data we saw out of china over the weekend. exports down more than 8%. we are seeing worsening producer prices, but still m&a speculation in china, speculation of more stimulus to come. it might be helping feed into the ftse 100. cac 40 up 0.5%. we will wait for the ase in greece to open. will we get that deal signed off today for 86 billion euros bailout package? can the imf, ecb, european commission, and european stability mechanism managed to agree on a plan as well? greece. is there for let's have a look at the euro. we are basically trading flat. expectations were 225,000 jobs to be added. 200 15,000 jobs being added to the u.s. economy. you are seeing the dollar trade flat today. i want to show you the market reaction on friday when we did see that sudden spike higher when we saw that number come in ahead of 200 thousand. let's have a look at the commodity trade. the china effect. we are seeing copper pretty muc

let's go straight to caroline hyde. : this is an outlook on how the economy has performed in june. it is a miss on the industrial front. industrial production actually falling for the month of june down from 0.4%. the estimate had been for slight growth. disappointment on the industrial reduction side. oil and gas had been the bone in previous months. maybe that area slowing down. meanwhile, manufacturing on the flip side has slightly beaten animist estimates. the estimate had been for half of that month for month. looks as though the pound is reacting in terms of disappointment from the industrial front. i'll show you the pound against the dollar, down in negative, having been higher today. so much anticipation ahead of super thursday, the monetary policy committee results. will we see any hints that they will be looking to raise rates? this is what the pound is doing versus the euro. still higher. francine: caroline, thank you. caroline hyde with the latest on this breaking data out of the u.k. tesla has cut its full-y

let's go to caroline hyde. ting equity markets to go trade lower today, not much enthusiasm ahead of what is super, mega, whatever you want to call it. you will get a flurry of data. whether it is the economic forecast. the u.s. has been central bank focused. the united states trying to read the data. it is the strongest in a

someone who isn't -- caroline hyde. caroline: no rest for the wicked. $5 trillion wiped out of global markets over the course of the last month and it is set to get worse today. the two key issues in the minds of traders -- china and the federal reserve. will china prop up their market as they lead into this victory parade later this week? the jury is a bit out. risk aversion. key central bankers over in jackson hole, the ecb, the bank of england and the federal reserve not too worried about inflation. dax up bying the almost one percentage point this morning. 0.8%.rly the cac 40 up by we are also seeing once again the euro playing a bit of hayes and trade. clearly there is money moving into the europe and yen as well. we will hear from zen becker in asia. the correlation between the yen and the euro with the highest correlation since 2007. both seen as an area where to put your cash when you want safety. copper is lower and oil is lower up by 1.3%. we are at $44.5 at the moment. glut butstill a supply more rigs coming o

let's get that market open with caroline hyde. caroline: let's look in on what will be a volatile trading session, because we can't work out whether we are looking for risk or for the heathens. -- the havens. we are waiting for the market to open, and just opening on the dow, off by a quarter of a percent. downs some very ups and over in asia, no one really understanding which way to trade at the moment, as it seems that china does manage to unleash the amount of steadiness people wanted to see. they cut rates for the banks, cut rates in general, hoping people would are lend lend. it doesn't seem to resuscitate these markets. risk aversion is playing out on the equity markets so far this morning, after we saw more than 300 billion euros going to the stoxx 600 yesterday, before coming back down. let's have a look at what's happening in terms of some of our search for safety. this is the dollar rising versus the yen. this helps power through some of the japanese us stocks. that particular haven seems to be somewhat out. gold, too, co

caroline hyde joins us for more. ey has not made as much fuss over his past transactions so why now? caroline: because he is buying them. previously he was selling. yesterday he started tweeting that he had just bought some. a cool it hundred $75,000 worth. it's interesting not just his purchases but other executives within twitter. peter fenton has been buying up stock, $200,000 worth in the director peter curry also purchased a cool million dollars of twitter. inause of investing twitter's future as jack dorsey put it, but also there was some other positive news. national football league. nfl as it is known in the u.s.. a multiyear agreement signed with twitter. you'll get new videos and highlights for year-round deals expanding on the existing relationship they already had but they said that brands cannot get enough of this. also viewers, people who use twitter love the highlights on twitter so this is a new deal. shares have jumped 9% and you can see them currently on my bigen but overall this is a move for twitte

it could get messy, the open -- let's get it for you with caroline hyde. is could be brutal -- $5 trillion so far wiped off market value since the devaluation happened in china. the worst week for the stocks. for four years. the dax -- 18% off previous highs, which means we will probably be entering bear market territory today. cap is falling by 3.5% -- this is painful if you are along with these equity markets. but it's not just europe -- this is the middle east, asia,

someone who isn't -- caroline hyde. t for the wicked. $5 trillion wiped out of global markets over the course of the last month and it is set to get worse today. the two key issues in the minds of traders -- china and the federal reserve. will china prop up their market as they lead into this victory parade later this week? the jury is a bit out. risk aversion. key central bankers over in jackson hole, the ecb, the bank of

let's get that market open with caroline hyde. ok in on what will be a volatile trading session, because we can't work out whether we are looking for risk or for the heathens. -- the havens. we are waiting for the market to open, and just opening on the dow, off by a quarter of a percent. downs some very ups and over in asia, no one really understanding which way to trade at the moment, as it seems that china does manage to unleash the amount of steadiness people wanted to see. they cut rates for the banks, cut rates in general, hoping people would are lend lend. it doesn't seem to resuscitate these markets. risk aversion is playing out on the equiar

caroline hyde has her eyes on the market. little bit of selling yesterday we could see a little bit more buying when it comes to equities. you will see the euro stoxx 50 almost .5% higher in europe. in france up about .5%. how much does that have to do with socgen outdoing credit agricole? really showing what it is made of, up taking -- upticking in terms of sales. we are also seeing the dax up about .5% as well. clearly, equities rising. we will see how the bond market is performing as well. all eyes on the federal reserve. anna: thank you very much. caroline hyde with the latest on the markets. let's talk about energy. lundin petroleum reported earnings this morning. second-quarter revenue missed with production guidance being cut. joining us for our first interview of the day is lundin ceo ashley step install. -- ashley heppenstall. you were talking about how your production base will grow significantly. at the same time, you are cutting your guidance on production for 2015. update us on what is happening on the production

let's get straight to caroline hyde. caroline: greece voting for that third bailout package.basically flat in france. ftse up 0.1%. the interesting figures will be the devil in the detail when it comes to greece. how many people did alexis tsipras manage to bring with him from his own syriza party and the opposition? how much can they woo germany to show they have the guts, the

francine: the latest on the market moves with caroline hyde. it is a bloodbath. is, five trillion dollars worth of valuation. and it keeps going. completely andre is a read. not one single stock rising on the dax. it is a bear market. 40% lower than the highs previous of this year. folic utilities. the key area of concern is global growth. -- falling utilities. china in particular. the second biggest economy in the world having the slowest growth since 1990? the metals and grains and the miners falloff at commodity related. .nd correction territory not one single stock and drug green and everything in the red. one stock that is in a drug green and the whole of the stocks it's -- in the green and it is spain. it is up 6%. tobacco. wills a new contract and be building in europe and the biggest shareholder is being prepaid alone and shares to be bought on the downside. bloodletting on the equity markets and particular. it has slowed over from asia. the shanghai composite of 8.5%. this is one of the worst days since 2007 for china. even though speculation of rate cut

i am at caroline hyde tv. from allianzngs earlier. social look at the numbers with the company's cfo. ♪ caroline: welcome back to "countdown." here so the stories you should be reading this morning. the u.s. jobs report is out later today. to a 25,000 jobs in july. ofwill stress the importance the jobs market in terms of raising rates. corona bets on a rebound in the third biggest economy. the boj will continue to expand the monetary base at an annual pace of ¥80 trillion. insurer beatest estimates for second-quarter profits. earnings from the property division. its earlierk to estimates. i'm very pleased to say that joining us live from munich is the alliance cfo -- ally ends cfo -- allianz cfo. it seems it is a bright spot up from 39%. how much of that was helped by the firemen fund insurance company. it increased profit by around 200 million euros. the 10.8 is a true increase of our increased confidence. caroline: your upgrading your outlook. how much do you feel that potentially we could see warmer wind coming from high interest r

manus: caroline hyde joins us now. she got a new preview of the s6 edge+. you with chocolate? what do you make of this? caroline: i thought it was a good-looking phone and there are nice feature upgrades. it is bigger, it is better in terms of multimedia. it is faster in terms of charging. i'm terrible at throwing away my phone. i'm always dropping it. it is less scratch a bowl. but there is nothing breakout. the upside is the samsung pay. they were testing out how easy samsung pay. it is going to be more widely usable than apple pay. you will be able to use the magnetic strip card readers, which are prevalent in restaurants, shops. they want to be used by everyone. they don't get charged transaction fees. you have this great enormous event in new york are they unveiled these. i do think they are beautiful, i just don't think there is a killer new feature. you can live stream videos. i did not think it was a standout versus the apple iphone 6. they have also got to build themselves back up after production got hit. these have got curved screens. this is a wh

let's go to caroline hyde. caroline: we are expecting equity markets to go trade lower today, not much enthusiasm ahead of what is super, mega, whatever you want to call it. you will get a flurry of data. whether it is the economic forecast. the u.s. has been central bank focused. the united states trying to read the data. it is the strongest in a decade the iso. france is up by 3/10 of a percent this morning. let's have a look at a fax -- fx the pound is trading higher. clearly some anticipation we will see tones of potential rate rises. the euro is spikes higher on the back of data. german orders are better than anticipated, up 2%. we saw the euro come off lower. employment surprised me the aussie dollar came back down. we are seeing unexpected jumps in unemployment. we are not sure if there will be cuts in the interest rate and the australian central bank. yield spiking higher in britain, ahead of the super thursday. will we see a split? spain and france go to the debt market, selling bonds, deals coming lowe

caroline hyde is that the markets desk for us. we are finding ourselves up for a little bit of calm after the storm. after seeing what is happening in china, the calm has not quite hit china. the rest of asia is showing a little bit of a reprieve. still, the shanghai composite remains lower. we are off by some 16% over the course of three days. clearly, the pain is still being felt in china. still no stepping in by the chinese government. still no cuts to the reserve ratio requirement to help push more buying. they have been allowing pension funds to start buying equities. none of this is stopping me rot when it comes to chinese stocks. but there is more in the market when it comes to hope and optimism for the futures market and the u.s. we are still trading up about 1.7%. he are looking at the dow jones, the s&p 500. yesterday, we saw the biggest selloff since 2008 in the midst of the financial crisis. the dow jones, at one point slumping 1000 points in under seven minutes. that is the biggest moving history. that is more than the

caroline hyde joins us. ne: they are upgrading their full-year, remember the --zalando.the lando they fueled the birth of many a copycat. they raise their full-year --enue forecast, 28%-30 1% 31%. this is why you are seeing an uptick in share prices, up 9%. strong spring, summer season. analysts seemed to be not as optimistic as they should have been about a second quarter. they were feeling the company missed the guidance. the second quarter earnings they did fall slightly. jonathan: a lot of profit warnings. specifically, does this come as a bit of a relief? kerley girl exactly -- -- fell: profits failed because they are sacrificing profit to boost sales in the long-term. in july they warned the investor base there would be a problem. they would see increasing costs. why? because they have to security buying in of germany and switzerland. the germans and swiss do not buy as much as we do. they do not like using their credit cards online. how therefore do you pay online? invoicing. you have to be trusted. ge

hyde. caroline asian currencies definitely under pressure. china's move last week really shocked the market. i think it continues to tell the story. saw. this big move we this is the move we are seeing here now. it is highlighting the extent of the move we are seeing it electrically show you.

rounding up with all the news, is caroline hyde. roline: michael evans being named the new president of alibaba. the twitter posting that the alibabaf wall street -- getting in on the act. michael evans for 20 years was a partner over at goldman sachs. he was vice chairman. he was head of global growth market. he understands how china attracts with the world. and how the world interacts with china. that is why he is now helming at alibaba. fascinating statement coming out of from -- coming up from alibaba yesterday. we will report to the chief executive. he is already an independent director. -- how willunced the drive brands in europe, asia and the americas? -- how will he drive brands in europe, asia and the americas? is the 200 day moving average. for the first time since september 2013, we saw the share price is below that. by george, they sold. was.cale of the selloff we are now seeing apple at the lowest in six months. we are in correction territory. shares traded hands yesterday. earnings disappointments have been weighing on

points.res down 122 a lot ot talk about caroline hyde has your european market open. they open. we expect them to trade lower a second day down they go. the biggest move in the yuan in 21 years. seeing devaluation, the market getting more of a say in whether currency goes. the emerging markets give it the thumbs down. it is a selloff, europe sells off, cap 40 up by .9%. we will see -- greece opened at half past the hour. germany

let's get all the market moves wrapped up with caroline hyde. caroline: a torrid week on the markets. $2 trillion worth has been erased in terms of market valuation across global equities. we are having the worst week in nine months. this is where one of the clouds that is building this perfect storm is brewing. you are seeing not one, not two, but three entering bear market territory. we are expecting the hang seng, chinese stocks, to close more than 20% lower than their previous peak. it is not just hang seng we are looking at. you are expecting the likes of indonesia to end in a bear market. you are expecting taiwan as well. this is across the board in terms of a flight out of these assets. what kicked it off? china's devaluation, the drive to devalue has been caught and the contagion is spreading. we are entering a bear market in hang seng. this feeding into equities. i'm going to show you how this is feeding into europe. we have risk aversion here as well. money coming out of the dax, the cac. we are now seeing the opening of the greek marke

let's get straight to caroline hyde. caroline: greece voting for that third bailout package. we are seeing the open basically flat in france. ftse up 0.1%. the interesting figures will be the devil in the detail when it comes to greece. how many people did alexis tsipras manage to bring with him from his own syriza party and the opposition? how much can they woo germany to show they have the guts, the coverage, and the determination to impose the reforms being demanded by germany at the moment? that 85 billion euros of bailout figures, they want to see change happening in greece. guess wasat one of my telling me earlier. ftse 100 opens flat. dax flat as well. we are waiting and seeing how greece plays out. they gather to discuss the bailout. and what happens in china? calm after the storm. for the first time, we see the reference rate in china higher. we start to see stocks, shanghai currently up 0.3%. we see moves to start to see the market taking action, or china stepping in, saying the market will be based on methodology now. the market will help dictate the foreign curren

return.t is a here with a preview of what we can expect emma our european business expert caroline hyde has the information. results in half an hour? caroline: indeed, one of the world's biggest has a claim to fame -- it is the number one distiller and china. that is why we are interested, especially chivas regal. maybe a bit early to look at the booze, but let's look at the statistics and china. 15% overall of their profit comes from china. the asian unit as a total, 38% of sales last year. this is a crucial emerging market for them. and the rout that we have seen, we are meant to be seen slightly improved numbers for fourth quarter. quarters,cal third those have been tough. 3%.a sales following we know the reason and the trend. let's take a look at the challenges. we know they have been hit as well. let's have a look, a crackdown on the extravagant spending. giftgiving, the government has been focused on that. that has been hitting some of the higher end stocks. whiskey reducers and cognac producers, but the biggest effect has been on the middle class. this is where they are focusing

caroline hyde has the breakdown. caroline? caroline: yes, indeed.orld's biggest advertising company, the numbers look pretty good. growth seems to be still coming. sales climbing 7%. the biggest earner on the ftse 100. dividends beating expectations. 37% uptick in the dividends. things look pretty good for the next quarter. july, sales up 5%. the previous half, we did see some interesting geographical trends. north america, the strength of that dollar did help sales there. up 17%. the standout performer. maybe some concerns about greece. equally, even more interesting trend if you're looking at where the focus point has been for w.p.p. the vast growth economy. the likes of southeast asia. that is where we saw actually russia and china seal the biggest hit. overall these growth markets of africa, the middle east, asia, they have been contributing 30% of sales to w.p.p. rit countries in particular, brazil, russia, india, china, 12% of all sales. this is where the pain is creeping in. southeast asia, central europe. they both slowed. russ has -- russia

manus: reths let's bring in caroline hyde.te there is a very, very human side of this story and then the financial market side. caroline: there is a human cost and also a wait placed on the economy. the hunting for suspects caught on camera after this tragic event. already we're seeing the feeverling this play out across the market. we're feeling weight of the market with the downward trend that we're seeing in a thai bar. have a look at my screen and what it is doing to thai stocks. this is the biggest move for thai stocks that we have seen in eight months. some of the hardest hit are those exposed to tourism. central plaza hotels by 13%. the airport operator falling. thai airways international down 6%. gauges of tourism are feeling the biggest pain today because where the bomb hit was primarily focused on where tourists tend to be. here it landed second-degree where the malls and hotels are based and the hind shrine. local thai people and chinese and filipino visit ofs were hurt. the -- visitors were hurt. clearly we're alre

caroline hyde has the latest. how are we looking? caroline: what a difference a day makes., the storm from china lobbed us here in europe. today we're sheltered from it. the outperformer, interestingly greece up more than 5% at the moment. tentative buying. appetite for risk once again. we're seeing on an industry basis the stoxx 600 currently up 2.8% and every single industry group is outperforming, basic material, miners f course the leading the group higher. a complete about face. today we added about 250 billion euros. we are halfway. we have to add another 250 billion if you're going to make up from yesterday's route. the u.k., ftse up 2.3%. as you'll see we're pretty flat in the pound versus the dollar. i want to check in on germany of course. yesterday the dax entering bear market territory. 10% lower than the previous highs of the year. today we're seeing the euro suddenly take into play with germany. this is something that has become believe it or not the haven rather than the swiss franc or the dollar torian. money was moving into the euro to shelter from the chin

caroline hyde has the numbers and she will break them down.irilenko martel, cognac and havana club falling today after profits missed analyst estimates. the fiscalnto what year had in store. worth 2.6% and we get just 2% growth in terms of profitability and asia is still the weak point. the claim to flame is that the number one is an india. but it is not paying off. china's sales fall. they are improving. there were down 2% and this time last year they were down more than 20%. but the continuing move away from a higher and scotch whiskey is continuing to hurt them. in the u.s. there were some tough challenges as well. , are trying to go very high and and is not working. a 404 million euro charge. the u.s. is hurting russia is hurting and china is still hurting. area that they can claim to be number one. the rest of asia is important as well. almost 40% of their sales in the previous year but no real lipservice to what is going on in china. of course the stock market route that was hitting the market throughout july, nothing. get a challenging

is china.eme caroline hyde. caroline: phenomenal moves area that record move in the yuan. to the tune of 1.9%, the most in 2 decades. it moves across asset classes and everybody knowing china is trying to boost exports. is it trying to tap into the imf? to ensure it will come to reserve currency? the special digital area for china. it is having an effect on the market. cac 40 is often by zero .3%. it is going to play in stocks in europe. he trading partner. look in luxury and cars.

those are the big market moves this morning let's get some of the big stock stories with caroline hydejust talking about the general is the best performance morning. this is a company funding rates in the equity side of the business. the highest profit -- you said it in some eight years. there also promising more cost cuts. thank you very much. investors like what they hear. and here and united kingdom. another one of their top performers. again it has to do with their earnings. the biggest manager of u.k. pensions. the numbers to the analyst estimates. they are lowering in the cash in the your sing that inflows up 62%. they're down on the downside and it is all about oil down by almost six cents this morning. this is a refining company not living up to expectations on profit or sales. lower sales volume because of the turnaround and also lower sales caused by the oil price decline. jon: just in some breaking headlines. bloomberg caught up with the governor in an interview speaking to our partners in bloomberg tv india. he said india is among the better prepare nations for fed tighteni

let's get the market open with caroline hyde. caroline: two days of a selloff on the stoxx 600.o see stocks get that nudge higher, shrugging off the data we saw out of china over the weekend. exports down more than 8%. we are seeing worsening producer prices, but still m&a speculation in china, speculation of more stimulus to come. it might be helping feed into the ftse 100. cac 40 up 0.5%. we will wait for the ase in greece to open. will we get that deal signed off today for 86 billion euros bailout package? can the imf, ecb, european commission, and european stability mechanism managed to

here with more is caroline hyde. caroline: dramatic move in the stock price, francine.was the stock market darling. we saw shared prices surge. this was the king in terms of ipo's. we peaked in november. since then, we have wiped out 35% of the market valuation. that is $90 billion. that is bigger than the entire valuation of goldman sachs. this is the biggest destruction of wealth in the world in terms of a stock. there's been a concern. it is about exposure to china. when the economy slows down, you slow down. we had the slowest rate of expansion in china since 1990. particularly in the big cities. scathing reports from china about business practices and kering group labeled them able to facilitate counterfeit. what do we expect from the numbers? we are expecting a slowdown. this is the weakest numbers we've seen in three years. averagewe've seen on 50% growth, 56% quarter by quarter. now it is going to slow. sales hit by that china slump. the slowdown wiping off $90 billion in terms of their valuation. clearly, there's going to be an issue here. there's also going to

caroline hyde is here to break down numbers. where was the disappointment?k at the line but -- the lineup. maybe you are a cognac drinker. overall, focusing away from the actual booze and the profits they make. 2% rise overall. that was below estimates. many looking for 2.6% overall. and pull down. china, sales are falling. last year, sales plummeted 20%. now just down 2%. it is a thorn in their side. vodka that brand absolute . challenging markets means they have taken charge of 104 million euros. u.s. a bit of concern. russia dragged down europe. asia hurting because of china. -- number one brand in china. approximately 50% of their profits. 40% of sales in 2014. it is crucial, but they get there makes right. no real light at the end of the tunnel. the investor challenging a volatile economic environment. they don't let us know what they think of the route in the stock market. but they think of the devaluation. compare that to debbie bp who gave us their view. instead, we are having to analyze. , the french rival, this is why they are hurting the very extr

here is our own it is caroline hyde. anyone who uses syria on a regular basis, apart from what brenda was saying that she uses it for the international clock and other things, but we digress. caroline: it is going to have a capacity of 7000 people other two thousand 500. the siri element is referring to what we think is the new apple tv product, be set top box. the apple tv box was first introduced in 2007 with the first iphone and has not been updated. this could be a siri sensitive set top box and a redesigned controller. the main thing is the all-important iphone. it will be the iphone 6s. 4.7 screen for the new iphone. improved cameras, a faster processor, but a top development that is already in the macbook and watch. when you touch the phone, it will be more sensitive. really sensitive touchscreen capabilities and a new camera. -- a new color. potentially rose gold. francine: this is rose gold. it goes even a step further. caroline: apple tv will be enabled. they could be available next friday. they are being unveil

here with the latest as caroline hyde. first of all, there is a currency worry, and then volatility in chinese markets. caroline: and this is what is really concerning people at the moment. will we see other asian, emerging-market nations start to devalue their currency, after we saw the chinese do exactly the same to the yuan? will they try to make them more -- their own exports -- today am going to talk about the -- we see weakness today. this is the dollar rising. currency falling. this is one example of a country fueling that concern about currency wars. here is another 1 -- vietnam. it devalued their currency. a 2.4% gainow see of the dollar versus the vietnamese currency. weakening in -- this picture. and widening the trading ban. they said this is because of the yuan and because of the federal reserve. we get minutes from the fed later today. july, of course, we saw the stock show off -- sell of china. the next meeting will happen in september. they have to take into account what the rest of the world is doing in ter

. >> welcome to countdown, i'm caroline hyde. a happy friday if you are along the markets. the route continues, this selloff in the united states -- we sell stocks down or than 2%. the s&p 500, more than half a trillion profits -- the worst in 18 months for the s&p 500. the dow jones and nasdaq also falling. i want to check in on the world equity markets right now. i have on the terminal the all-country world index, and over the last month, the slump extending. we are currently on track for the worst week in global stocks in nine months. we are up more than 3% on the week, more than 4% on the month. this is significant. we are seeing more than $2 trillion wiped off the equity market. hong kong, taiwan, indonesia -- all on the cusp of bear markets. this is an excess of 20% of the low of the previous peak. down more than 10% yesterday, not one single stock rose on the german scale. a phenomenal move, let's kick it out to asia. juliet is standing by in hong kong. it is a volatile day out there. juliet: it certainly is, caroline. good morning. we want to pop to the selloff, and

i am caroline hyde. it is some neglect a.m. u k here are the market moves you may have moved -- you may have missed. we are seeing 2.5% being added to the s&p 500. see movesrting to back in as we saw growth in gdp. boosting every single expectation we have looked at. we see commodities rebounding, as we start to see buoyancy being added to china. supporting the bloomberg commodity index. crude starting to rebound, 1.8% higher. in the first time, we are seeing it grow up on the week. we have had nine straight weeks of decline. this is been the best week for oil since april. let's check in on the swiss franc. avid here. are starting to see -- we are starting to see the dollar buying fewer swissie's. the economy doing better than expected. we are starting to see growth. many thought the economy would fall into deterioration. outthey managed to pull it with consumer spending, despite the swiss exports, particularly watches. let's head out to asia on that note. let's focus in on what is happening on stocks. you got a full roundup. n

caroline: i am caroline hyde. we are starting to see a slight rebound.e are strutting to see people digest what is in china and talk up the yuan again. the last couple of days we had huge moves in the currency and this morning that has not happened. last night the u.s. markets came back and were down 1.5%. and then close tire. -- closed higher. there was a big spike and volatility and the market is getting all over the place. that then compresses back in as well and we start to see things calming down. the dollar has been reacting to this as well. let's break some of the details merre getting out of sk. caroline: we're still waiting for those numbers but this is a company that has seen some court of explosion. tengion seeing an explosion that rocked the city throughout the late hours. will get those numbers in a minute. what is fascinating? someine: you would expect profit decline with sales declined but also from the pboc, the statements coming out of the central bank. trust the market. respect the market. fear the market. this is what the deputy govern

caroline: i am caroline hyde. a tragic bombing adding to the woes facing thailand's economy already and there is some topsy-turvy trading going on. bit day-to-day was a little weaker. i didn't think it was that horrible. kirilenko -14 jacob guy: if you -14? -- caroline: guy: if you can't if you really think about how we got to that number -- there are mitigating circumstances but the u.s. market essentially bounced back toward the close yesterday so we did see a largely positive and to the day. 5% could see we were up by and the average was up by a 4/10. the equity markets did not feel like they got knocked but they have had some bad days. caroline: and it is easier to see such volatility when you have volume 15% below the average of the past three months. house end it was the builders that managed to fuel that resurgence. guy: chance that everybody is talking about and i have read my third article now the producer pointing another when out this morning is this chart here. post china seems to have got everyone thi

francine: caroline hyde there with the latest on twist twitter and alibaba.s, cameras, africa. manus: i love this. this is about nollywood . we're going to speak to the c.e.o. of the company dubbed the netflix of africa. you don't want to miss it. ♪ 6 francine: welcome back to "the pulse" live from london on bloomberg tv. manus: irokotv, the netflix of africa has built a global audience since launching a nigerian platform back in 2011. francine: many of its viewers are in north america and europe. they have about 5,000 titles as part of its subscription service from the nollywood film industry. joining us is the founder of irokotv. great to have you on the program. we're very excited. nollywood is huge. >> yes, it is. francine: when are you going to start selling that to audiences across the world? >> the biggest challenge is selling it to people who don't have access to it at the moment. there are some people in africa, 25-50 million tv households. we see it as the first consumers -- the first to get excited about it should be people in africa. where we are

hyde. caroline asian currencies definitely under pressure. china's move last week really shocked the market. i think it continues to tell the story. saw. this big move we this is the move we are seeing here now. it is highlighting the extent of the move we are seeing it electrically show you. month. over the last you could see this they move for the u.s. dollar. the asian currencies really focus right now. caroline: we did an interview with morgan stanley. now there are 10 currencies. how much will we see? have seen little change coming from the central bank. chief economist saying the government might well be there to steady the ship. guy: let's continue to focus on china. our guest is standing by in hong kong. .> good morning as you say, it is all about the yuan. we are seeing some weakness coming through from hong kong shares. the enterprise indexed has followed by close to 2%. foreigners are exiting out of chinese and hong kong stocks. it does make their assets less attractive. in and out of positive territory today. it really impacts mal