bloomberg's mark barton joining us as we wrap up the trading hour. certainly a bit more calm than last week. mark: yes, european stocks bounced back from their biggest low-end for years. but the markets are little changed. the european close starts right now. betty: we are going to take you from new york to london in the next hour. our markets are just hitting their lows of the session. mark: betty, you know i love my narrative, and this is spoiled binary -- this has spoiled my narrative. i'm not happy. there i was 20 minutes ago telling you how we have diverged from the age and markets. let's put it in perspective, betty, even if we finish around these levels, we are coming up at 6.7% losses last week, the biggest in four years. somee are seeing fluttering of gains across the european markets. .emember the dax fell all those fell he most since august. the dax, as i said, the fifth worst performing stock .erformance in the world as i speak, betty, the dax turns lower. and the volatility index, it since 37%, the most april. it is not as good as it was

i'm betty liu in new york with mark barton in london.hares inia may sell its estate owned oil company, the world's largest producer of crude oil. this is huge. the deputy crown prince tells economist decision will be taken in a few months. he's enthusiastic about that idea. for more on the idea, julian lee joins us now from london. why would one of the most secretive oil companies in the world want to now open its books to the public? we have tot question ask ourselves is how much will it actually open its books to the public? ipo is likely to be an carried out in saudi arabia for a very small stake in the company, potentially may be only open to saudi investors. it is unlikely to be a listing on new york or london stock exchanges that would require more transparency than ipo in saudi arabia. we need to bear that in mind. why now? when they launched the 2016 budget just before the start of perhaps privatizing parts of the saudi industry -- this is part of a broader policy under the new king and the deputy crown prince. altering the struc

mark barton there with asp checks.et a flash. 18% ass at alcoa dropped it ordered a loss of $.39 or share. that holds the impact of cost-cutting impact. them is fouring cents per share. there was rising demand for aircraft parts. is poised tot man become the first chinese person to control a hollywood phone company. he agreed to buy legendary entertainment. the credits include jurassic world and godzilla. china's car sales will accelerate after climbing at the slowest rate climb in 20 years. accordingncrease 6% to the association of automobile manufacturers that is your bloomberg business flash. francine: another industry where china has been a key growth driver's hospitality. the largest provider of hotel accommodations has been expanding rapidly in the region. the company owns holiday inn and crown plaza during they are opening its 5000 hotel. it's great to have you on the program. you are 112 gets to see the real economy. we speak to investors. you travel and meet people. if we talk about china, what is your feeling

mark barton breaks down this morning's market moves. we have to look at oil. rk: commodities are falling good european stocks are rising commodities are falling. european stocks are rising. .hina continuing producer prices falling 46 months. still about half the government's target for 2015. suggesting there is further rub for stimulus in china central bank keeping its rates unchanged after cutting it for eight consecutive days last week. the shanghai composite slumped today, down by 5%. it wasn't the worst performing global benchmark last week. -- it was the worst performing global benchmark last week. it sunk last week. china stock plunged. the one weekend to a five-year low. equitythe 93 primary industries tracked by bloomberg, only 11 rose in the first week in 2016. was thed's fifth worse germany -- was germany's tax. germany's dax. declining today as well. the rand is the big performing currency today. i am talking about negative terms. this is the first test this is a four-day chart. it is the spike on to talk about . intraday, the dollar rose 9% against

let's check in with mark barton. rk: global stocks are following, the msci dropping to its lowest level since september, the u.s. selloff prompting the decline. the shanghai composite at one stage today, when it was down by as much as 2.8%, was flirting with the bear market from its highs in december through the lows of today. we had fallen by 20%. that is some decline. the market at the end of the day did rise. this is the chart going back to june. also earlier today, the market fell below the lows following the slump in may, june, and july. it's been a fascinating day for the shanghai composite for a number of reasons. this is the hong kong dollar. this certainly has to be the currency. earlier, its biggest intraday fall against the u.s. dollar since 2003. the currency headed for its lowest close in over four years of sentiment. sentiment toward china worsens, more volatility could be on the way. and brent crude -- can i bring it up for you? here we go. brent crude, hovering around $30, francine. it fell below $30 y

mark barton is joining us as well. t's have a look at today's bloomberg business flash, look at some of the big stories we're following here. french automaker renault faces the specter of a full flag and type scandal. aares falling -- fallout from bulk wagon type scandal. salaries have been frozen in the world's second-biggest mining company. tintoy freeze at rio and spendingares on contractors and consultants. he says he sees no end to the commodities route that has eroded profits. lsl property services says if the current rate of growth continues, the average price may .it $433,000 this year values in the u.k. rose almost 7% in 2015. that is the latest business. turn to our story now in the global banking industry. betty: in europe, prosecutors in milan are accusing six current memberser deutsche bank of colluding with the world's oldest bank to falsify its accounts. bloomberg reporter joins us now from milan. what is the status of this probe? guest: they have completed their inquiry and are able to keep these key acc

i am mark barton.e discussed the volatile business of oil covering every aspect, supply and demand, the short and long-term outlook for investors, producers, and consumers. here is a sampling of what our reporters and guess had to say this week. >> i keep. about $20 crude. -- is $20 so important hearing about 20 dollars crude. why is $20 so important? high in the 20's is where you would anticipate the cost to be. if you look at the great work done bringing down the cost, managing this tough environment, it seems as though the cost declines have reached that maximum threshold. it is very difficult, challenging to see how they can improve on that level in 2016 relative to 2015. >> why are people so concerned about oil prices being low -- isn't it a stimulant in some countries like india? vincent: they are helping the average consumer, but keep in mind, you have had cuts in subsidies. in theep in mind here u.s., for example, you have had significant job growth in the energy sector. that has reversed. high

mark barton is joining us for the next hour. it has been ugly again for the bulls. off the lows. events in china continuing to slam stocks here, sinking for the third consecutive day. the european close starts right now. betty: we are going to take you from new york to london in the next hour. we are coming off the lows in europe. mark: down 3.6% earlier. that was the biggest decline since august. earlier, eight stocks were rising. 600 losing 5.4% this week. the lowest levels since a september.

i am mark barton and this is nejra cehic.res hitting a five-month low -- colburn sent a profit warning two months ago. kasper rorsted will join the adidas board in august 2 take the reins. worth it is currently -- worsted mess is the ceo of ankle. report in the reins would only affect the rumor mill. that is the latest bloomberg business flash. nejra: still with us is virginia, who is managing director. we were talking about how you navigate volatility just before the break. talking about your bamboo strategy being both strong and flexible. we look at the selloff that have happened this year. it has come down to two things china and will prices. if you had to pick one thing that is scaring investors, what would it be? >> i still think people have not realized that the trend growth rate for china could be well below what the government is officially targeting. i would say the oil price is a derivative of that. not only chinese slower growth, but supply and demand aspects that are clearly in favor of lower price. both are reall

mark barton, member of sandy hook promise. u say, a real honor to introduce the president. it's an honor to have you here. we'll be right back. but now, i step on this machine and get my number which matches my dr. scholl's custom fit orthotic inserts. now i get immediate relief from my foot pain. my knee pain. find a machine at drscholls.com i am a lot of things. i am his sunshine. i am his advocate. so i asked about adding once-daily namenda xr to his current treatment for moderate to severe alzheimer's. it works differently. when added to another alzheimer's treatment, it may improve overall function and cognition. and may slow the worsening of symptoms for a while. vo: namenda xr doesn't change how the disease progresses. it shouldn't be taken by anyone allergic to memantine, or who's had a bad reaction to namenda xr or its ingredients. before starting treatment, tell their doctor if they have, or ever had, a seizure disorder, difficulty passing urine, liver, kidney or bladder problems, and about medications they're taking.

betty: welcome back to bloomberg markets i'm betty liu with mark barton. the markets are just finishing the day in europe powered by mario draghi. mark: like powdered by cure cell. the stocks up 600. could be the biggest rise since december. what a change since wednesday when the stock 600 had the biggest fall since august 24. lowest close in 15 months. it wasn't a straight line. we'll talk about draghi in a second. post-draghi rose by 2.5%. came down rising towards the finish. at the start we do down by about a fifth of one percent. the big gainer in europe today, it looks like it could be a record high, record gain for the day. not a record high. pearson just spoke to the chief executive, cutting 4,000 jobs. second reorganization in a matter of years. betty: it is, indeed. back, though, mark, to mario draghi and what he said today in his press conference that caused this rally. mark: betty, have you circled march 10 in your diary? betty: i have indeed. yes. mark: there you go. it's live. i tell you why it's live draghi essentially today signaled more stru

mark barton joins me. we're wrapping up the trade in the new year. mark: happy new year.orst start to a new year ever as there is in equities route across the globe. rout across the globe. betty: we are going to take you from new york to london to men ilan in the next hour. we can blame what is going on. mark: betty, what a day. than 7% after two days of manufacturing -- two gauges of manufacturing contracted, one of them for the second month. that has not

let's check in the markets with mark barton. china entering a bear market -- have a look at the shanghai. how far we fell through this summer, rebounding through december. it is only since december through today that we saw these 20% declines. today, the shanghai composite sank 3.6%, taking its weekly run of losses to the worst since october. it is the worst performing global benchmark this year out of the 93 tracked by us at bloomberg, with a decline of 19%. of the dollar spot index continues to go from strength to strength. this is a one-month chart hitting a record high today, the gauge that tracks the dollar against ten of its leading global peers. what's interesting is that it continues to rise despite doubtors' growing to raise rates four times this year. traders are pricing a 29% probability that the fed will hike. -- whature stood at 53% has changed since then is china-induced global financial turbulence pushing down commodities, which of course is putting downward pressure on price expectations. that is why many don't be

bloomberg's mark barton joining us as we wrap up the trading hour. nly a bit more calm than last week. mark: yes, european stocks bounced back from their biggest low-end for years. but the markets are little changed. the european close starts right now. betty: we are going to take you from new york to london in the next hour. our markets are just hitting their lows of the session. mark: betty, you know i love my narrative, and this is spoiled binary -- this has spoiled my narrative. i'm not happy. there i was 20 minutes ago telling you how we haveve

mark barton joins me. we're wrapping up the trade in the new year. mark: happy new year. the worst start to a new year ever as there is in equities route across the globe. rout across the globe. betty: we are going to take you from new york to london to men ilan in the next hour. we can blame what is going on. mark: betty, what a day. than 7% after two days of manufacturing -- two gauges of manufacturing contracted, one of them for the second month. sinceas not happened 2009, betty. what an effect on global equities. still, we have 30 minutes left of today's session. $200 billion of value. and what is more interesting, it is the worst ever start to a year. last year's worst-performing sector, betty, you know what it was. it was the materials sector. look at this, betty. weak chinathat w data -- or was encouraging data, betty. accelerated the most in more than 20 months, but german inflation was not as strong as forecast, telling us tomorrow's eurozone support might also miss expectations, which of course leads to the question, are we any closer to the ecb coming stock?o i

mark barton joins me live from london, wrapping up the trading session in the next hour. e down as much as 3%. you have cut those losses in half. mark: we are headed for a lower close following the first today gain. the european close starts right now. betty: we are going to take you from new york to london in the next hour. talk to us about the trade today. down by 1.2 percent. we were 3.3% lower and we are still headed for the lowest close in a year. 18% below the april record and you know

in london ,elcome to the european close mark barton is joining us from london as we wrap up the tradingthe next hour. mark, we are watching this big rally. mark: european stocks at the biggest jump in a month after china data raises prospects for further stimulus. the european close starts right now. ♪ betty: we will take you from new york to london in the next hour and are, he kicks things off for us. mark: biggest increase for the stock in a month after dropping to the lowest in over a year on monday,'s china stimulus talk is track gain today, helping the price of metal as glencore. interesting to see gold down. energy companies are

emerging markets, oil, and gold -- mark barton has an update. g wake for central banks -- the fed, the boj, the central new zealand. mario draghi got it rolling and he said we could see further easing in march. his comments led to the big rally at the end of next week, spring the biggest two day gain since october. asian stocks are heading for their biggest two-day gain since 2011. european stocks achieved that on friday. emerging-market stocks, the msci, is heading for its biggest two-day gain since 2011. such symmetry. this is an index that has been china's, a chance by interior economy, and the prospect of higher u.s. interest rates. that makes this week's fed meeting all the more significant. investors are looking for clues that the central bank is retreating from its base case of a quarter percentage point rate increase. the msciecord, emerging markets index is down by 10% this year, heading for his fourth straight annual decline -- the longest on record. let's talk about crude oil, which has had significant moves in the last three days. mos

betty: i'm betty liu with mark barton in london. they tried to come off the lows, right? : who would have thought a more dovish fed would have been overshadowed by weak earnings, the oil prices pushed up oil companies, miners also rose, those were the only gaining groups. but it was earnings that dominated today's session. inope's biggest drugmaker the news today, down by 3.7%. shares falling the most since august, europe's biggest drugmaker reported weaker than antiicpated profit. duringcipated profit really quickly, i want to show you shares of h&m. shares almost down by 5%. the dollar strength adding to purchasing, because we had this unusually mild winter weather which caused it to add on a few discounts. a lot of earnings disappointing. betty: not disappointing was the u.k. economy at the end of last year, right? mark: it rose for the 12th consecutive quarter. what a run. economy,opsided manufacturing sluggish exports, sluggish services is where all the growth is happening. the risks are still global. that is why we will not see a rate hike for a long time. the refere

mark: i mark barton. -- i'm mark barton. , six current and former bankers will go to trial in septemberes they tried to rig a benchmark interest rate. the accused worked for barclays and deutsche bank. they denied that they tried to manipulate the euro interbank trade. mueller had a meeting with u.s. regulators today. california regulators rejected bmws proposed engine fix -- bw's proposed engine fix -- volkswagen's opposed engine fix. theid not comment after decision. that is the latest business slash. betty: we will take a quick look before we get to your favorite movement, the battle of the charts. we have abigail doolittle live at the nasdaq. we are still on declines in the market. abigail: another volatile day at the nasdaq. we opened higher on the composite index, now trading down by .5%. led by health care, the biggest sector weighting. another non-biotech health care stock down sharply come express scripts. shares plunging after health-care insurer anthem, its biggest client, has threatened to leave unless express scripts produces $3 billion in cost savings on drugs. the selling

matt: welcome back and right in the matt miller with mark barton from london.ts are finishing the day up. what are you saying? will close up around 1%. you probably thought, here we go again, the stocks were down by 2% principally because of the setup we saw in china with the shanghai composite falling 6.4 percent, the biggest decline since the first week of the year when we saw the market turbulence. oil fortunes change, the fortunes of the stoxx 600 changes the correlation between oil and stocks at the highest since 2013. gainers, the's big region's biggest engineering company. almost. biggest game in over seven years. the company raised their profit outlook for the year. a bit of a surprise and it highlights the company's confidence in the ability to shrug up the chinese economy and a slumping oil price. i want to quickly show you what is happening in the european bond market because we saw a in germany andds austria and in holland. the dutch to yield -43 basis points. mario draghi reiterating last night that the filling the ecb's mandate for inflation is cr

mark barton joins me live from london. i know you cannot wait. >> a very good day to you.ocks are recovering from the worst start of the year on record. the european close starts right now. betty: we will take you from new york to london and berlin in the next hour. we are less squeamish today recovering in the markets? worst first day of beer stocks with aean decline of 2.5% and we have clawed back some of those losses today. what a day it was yesterday and today with china announcing various measures to soothe the nerves of investors. the fear index rose

let's check in on the markets with mark barton.ing for a second day after a six-day losing streak. exports in china rising 2.3% in yuan termsn ending tha five-month losing stretch. devaluation isst helping trade. imports fell but not as much as anticipated. i want to start with the msci asia-pacific index, which is rising. it is joining the 2016 party. for the year, the msci asia-pacific index is down by 6%. the big currency move in the last five days has been the offshore yuan, which has made its biggest five-day gain. we have had intervention, china fixing the reference rate at a stable level for four consecutive days. peace reigns for now. coming up, crude dips below 30 and rebounds. we will discuss that next. ♪ the only way to get better is to challenge yourself, and that's what we're doing at xfinity. we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our pro

let's check in on the markets with mark barton following last night's the decision. e are seeing quite a lot of volatility, and china ended the day lower. mark: the fed acknowledged global risks, which seems to many to indicate that there would be a fed rate hike in march because the odds of a hike have come down a couple days ago. i want to start with the shanghai composite, falling for a third consecutive day since november, 2014. ,his is the year to date chart the most since 2008, authorities pumping billions and billions of yuan into the economy to stabilize the markets. this is what's happening to emerging-market stocks -- rising investors stepping up that the fed will refrain from raising rates. this is the jpmorgan currency index, which only a week ago fell to a record low and rebounded since the index has been decimated. there are concerns that the fed will raise interest rates. h&m shares are falling, feeling the effects of the strong dollar, which is raising garment costs. unusually warm winter season prompted it to offer discount. francine: mark, thank you

mark barton has the latest on the selloff in london. i'm looking at no green there next to you. : i want to chat about currencies. the big day in russia and saudi arabia. i want to get to south potter, who leads bloomberg coverage of middle east markets. samuel, we had saudi arabia cracking down on speculators, betting against a currency devaluation. our 30's worried -- our authorities worried about this too decade-old peg to the dollar? samuel: that's a hard question answer because authorities will not speak to us. what we know is that earlier this week there was a meeting at the central banks and regional branches of international banks. they were told to stop dealing in saudi reality options. those are used as hedges against saudi contracts. what we think is the central bank is trying to stamp out speculation that saudi arabia may devalue its currency. mark: how wedded his saudi arabia to this peg? is it becoming too expensive to defend the exchange rates? samuel: i would not say so. saudi arabia has $620 billion worth of foreign exchange reserves. they are long way of being o

let's head to europe where mark barton is watching stocks rallying on the ecb. il prices are added lockstep. mark: as if we did not get enough of mario draghi, we got draghi part two in davos wanting possible stimulus. stock 600 upoday 1.9% yesterday. 3.4% today. 2011.t two-day rise since today's again is the biggest one-day gain since august. only 20 stocks on the stoxx 600. percent, which is the most since august. you mentioned oil, betty, biggest two-day rally since 2009. these that's a mind blowing, aren't they? no surprises to see the oil and gas industry soaring today. the industry group is up by 5%. if you have gone to sleep on this, you may have been depressed. 24, when the eight hour session we had. 700 pointare up over on the dow since wednesday afternoon. you better not have been sleeping after that. we got a lot coming up in the next hour. mark: speaking to the norwegian prime minister, erna solberg, norway is heavy reliance on oil. what they have been doing to try to transition its economy from that stuff. advisor and isef made money in a falling oil

to london where my european close partner in crime, mark barton. you are seeing european stocks rise. a lot to do with the bank of japan. mark: crafty koroda. didn't check the idea of negative interest rates. are you allowed to do that? one week say we are not going to do it and do the opposite next week? betty: when you are a senthral banker you can do what you want. you live with the consequences. mark: yes you do. hopefully he'll be thinking the consequences will be a weaker and quicker inflation. i checked before i game on the yen is weakening against every single currency in the world, all 155. it's been a month of two halves. the first two weeks stocks got hammered. last week it was the ecb indicating we'll have more stimulus in march. that lift the european stocks. this week it was the fed and the b.o.j. as well. two weeks of declines. two weeks of gains. two weeks of gains is the best run since december. we are on for a 7% decline for the month of august. weren't for the month of january, worse month since august. worst january since 2008. b

. >> reporter: he was surrounded by victims and their families, including mark barton whose 7-year-old son daniel was killed at newtown. >> will it make any difference? >> yes, at the very least it's raising awareness. >> reporter: the most-talked about provision is pushing sellers to get licenses and buyers background checks. >> the president restated what has been the law since 1968. >> reporter: in says she bought a shotgun recently, no questions asked. >> i could have been anybody. they never checked my name. they never looked at my license. >> reporter: she paid cash, she says, untraceable. but the fight for more restrictions on sales has become a catch-22 for advocates and enthusiasts. americans bought more gun last month than almost any other time in the last 20 years, an estimated 1.6 million of them. advocates of gun rights are gearing up for a fight. the nra issued a state saying the american people don't need more emotional condescending lectures and argue the president's proposals would not have prevented any of the horrific events he mentioned. for president obama, enterin

mark barton has details. trade deficits narrowed in november.ove down the cost of overseas goods. billiontfall was 10.6 pounds compared with 11.2 billion in october. that's according to the ons, the office for national statistics. economists in the bloomberg survey had forecast 10.5 billions. by one point 3%. imports declined by 2.5%. oil imports fell by 18%. the trade deficit, including the surplus on services, narrative 3.1 7 billion. this modest improvement may not be enough to prevent trade once again exerting a drag on the economy. the total trade gap will widen in the fourth quarter unless december sees a deficit of 2.1 billion pounds or less. trade last provided by the way -- in 2011. one of the problems from manufacturers in the u.k. is the strength of sterling. and interestingly, as we were saying yesterday, sterling fell to the lowest level since june 2010 against the dollar. the pound is rising against the dollar today. this is a chart for 2016. it's up against the dollar for the first day this week. what i have done as i looked at th

mark barton has everything needed to know. i bet of reprieve. s stability the word -- his stability the word? mark: earlier we rose as much as 1%. isare a little change, which an improvement on the trend we have experienced in 2016, the worst ever start to year for global stock markets. earlier the stoxx 600 fell to its lowest level since december 2014 after dropping for a third consecutive week on friday it achieved the dubious distinction of entering a bear market. andgains now fallen by 10% 2016. it's a must a trillion euros trading in stocks 600 shares. it's about 50% greater than the 30 day average. that is interesting. the part to interesting fact is the fear index. europe's volatility indexes rising for third consecutive day. in 2016.by 59% we are still below the august high of 14.8. i want to show you where the money is going on the currency market. notonce, it is actually going into the end. as you can see, the things have changed. the dollar is trading lower against the yen. majorthe best-performing local currency in 2016. earlier, we h

mark barton was there. his 7-year-old son was killed in the sandy hook elementary shooting. >> we're here to try to save other families from living this pain. >> joe lothrop says the president is overextending his power and only congress has the power to pass laws. >>> it's a little cooler. >> "storm team 4" meteorologist chuck bell is here with more. >> it's a drizzly day. drizzle me this, drizzle me that. it's going to be going on all day long. sunday, speaking of that day, it looks like it's going to be a windy day for the playoffs and then big ups and big downs in the temperatures especially sunday into monday. temperatures right now in the upper 30s to around the city. upper 20s and low 30s to the shenandoah valley. as you plan out your day, not much. all cloud cover all day. a lot of fog, mist, and drizzle around. we'll have a light rain chance around 6:00, 7:00. what to wear? an umbrella, warm coat just to keep the mist off. melissa mollet. she looks a great in a bonnet. >> the last time i wore a bon

he was introduced by mark barton , who lost his son in newtown, connecticut. this is 45 minutes. honor.s such an on the morning of friday, my sweet14, 2012, little boy, my seven year old son, daniel, was among 21st 20 first graders and six brave educators who were shot to death at sandy hook elementary school in newtown, connecticut. those three years since 26 precious lives were lost at liesschool, far too many have been lost to gun tragedies in this country. ,ar too many people right now who are hearing these words, are grieving the loss of a loved one to gun violence. as a nation, we have to do better. we are better. we are better than this. 2013, i had the honor of introducing president obama .n the rose garden unfortunately, that was to announce that a bill that had been proposed to close the loophole in the federal doctrine -- background check system for firearms had been locked by members of congress. some members of congress. president obama delivered an y that wasat dat charged with genuine compassion and commitment. the president did a promise to not give up. i remember

he was introduced by mark barton , who lost his son in newtown, connecticut. this is 45 minutes. >> it is such an

mark barton in london wrapping up the trade. mark: the worst year prior to today fell by 1.7%.ay, looks like we are going to close around 2.7% lower, a third of last year's 6.8% has been wiped away in one trading day. >> not a happy new year. for anyone who was long, equities down. the dow industrials closing 276 points. at one point, it was down as much as 467 points. the worst first day of trading since 1932. started with what we saw in china last night. when the market fell 5%, it triggered although circuit breakers early in the afternoon. we're just going to pull the plug. it was that ugly. >> china overnight, the plunge protection team getting to work very early in 2016. sources say the nation has taken steps to support equities, following the 7% tumble in the shanghai composite. enda joins us from hong kong. great to have you on the program, as ever. it reminds me of the summer. it is not the stock route that concerns me. it is the policy response. why are they doing this all over ?hat enda: we had sleeping intervention today by the government. they intervened. to support

we will be digging into that more with mark barton. stay tuned. ♪ mark: it is the clock p.m.nd 10:00 a.m. in new york. welcome to "bloomberg markets." ♪ mark: life from bloomberg and me isdon, joining nejra cehic. looking at the global equities and 2016. just to put that into perspective, the u.s. stock markets were 21 trillion. no other stock market is is is big -- is as big. one company's losses and others gain. 's chief is often adidas. henkel sure sliding. what have you got frozen the markets? -- for us in the markets? >> we are seeing day three of the declines in the market. we have seen it take most of the endurance here. we have volumes at 40% higher than average over the past 30 days volatility spg.

i am betty liu in new york, with mark barton in london.that is the picturesque skyline of new york city you are looking at. it is really cold, though. i am told we may get our first snowfall this winter. time now for our global battle of the chart. global chart. we will show you what it means for investors and for viewers, and you can access the chart by running the function feature at the bottom of your screen. is juliehings off hyman. julie: i am talking about the currency of the day per to we have been watching the difference between offshore and onshore. that is what i have graft here. you have the spread that that is what i have graphed here. we have essentially had compression of that graph, with the stability that the pboc has tried to inject into the market. after allowing it to devalue over the past week or so. so that is one of the things that originally, as trading began today in europe and here in the united states, one of the tongs that was reassuring, investors. but that seems to have been melted away since we got the compres

brendan greeley is taking on mark barton. here we go. i want a shot at the title.oldest central bank in the world in sweden said it the possibility , theirg more flexible word, not mine. that is up here, let's look at the reality of sweden and the eu [screech]s. -- boom. mark: i have to do that found. can do. he i will do mine in 30 seconds. what is happening to u.k. inflation? we know the headline rate is at -- it disappeared. it is all over. it disappeared. i concede. but inflation expectations are heading down. brendan, it is all yours. [laughter] mark: where has my chart gone? where has my chart gone? [laughter] betty: technical difficulties. brendan wins on a technicality. [laughter] let's go ahead on the european close. park -- he and his late wife made them household names. we will have a preview of the next big project up next. ♪ betty: today, we are looking at the business of art. we are looking at chris does next big project. gora sat down to look at the project and the way he finances his projects. david: -- is about 60 miles east of milan. and in that l

mark barton joins us live from london as we wrap up trading in the next hour., the fortunes of europe and stocks once again are tied to the gyrating oil price as investors shrugged off a slump in chinese equities. the european close start right now. matt: we will take you from new york to london to paris and madrid in the next hour. a jekyll and hyde day in european stock markets. this is the stoxx 600 intraday chart. we fell 2% in the first 30 minutes and we spent most of the day clawing back those losses. we registered gains early afternoon. as you

day, froms 24 hours a the bloomberg first word desk, i mark barton. david, back to you. david: a diversity of forecast from top investors. george soros's warning a china hard landing will deepen the slump in stocks. on the other hand, larry think saying he does not expect a bear market. isi think the market still -- may have some digestion problems. i think over the course of the next year, we will see a higher market, global gdp will be around 3%. maybe not as high as the imf, but i'm not that worried. they are right is the $7 trillion question. only january 22. joining me is mike began, from western asset management which has $446 billion under management. let me start a lioness on the bloomberg terminal about central bankers being just one central bankers thought they were headed out, they are getting dragged back in. we are seeing a lot of a, native policy everywhere except the u.s.. to remove are serving accommodation very carefully. and there's no telling what they're going to follow through with the three or four rate hikes they are indicating now. the world, you

mark barton is standing by in london with that chart showing not as much read as yesterday. hat a day, yesterday. of the lossesome from yesterday. up.currency was propped a lot of money into money markets. susan some of the nerves d some of-- it soothe the nerves globally. yesterday had the biggest increase when scheiner devalued its currency. by 3%.e in london is up they were the big decline or yesterday. vw was the big decline or in -- decliner in germany. we know the story, the doj suing full flag and. -- suing vw. how much could the penalty be? potentially 80 billion. betty: incredible. what is also incredible is inflation. there is none. what is going on? rounds ofave had two qe and we are already talking about a third round of qe because inflation is nowhere near the ecb median term target. the headline rate was 0.2%. the core rate was 0.9%. it is leading to the question -- will we need a further round of qe? the price of brent is cheaper than what the ecb anticipated in december. it anticipated inflation of 1% 2017.ear and 1.7% in we could see those numbers come even l

let's head to europe where mark barton is seeing a decline in european stocks. ducers and banks heading lower, we are now at the lows of the session. mark: we are at the mercy of the oil industry. the banks are at the mercy of concerns of italy. those are the two industries driving the slow but what an end to the week. last week. stoxx 600, biggest to hunt -- biggest to gain gain in over four years -- biggest two-day gain in over four years. boj, new zealand and russia, today but a few will be listening to their every utterance. and it seems like a distant memory friday, buried in the snow and i had to dig myself out. we will see you in an hour. let's get to abigail doolittle from the nasdaq. we mention we are at the low. -- mentioned we are at the low. >> the nasdaq is down by about are a percent but two likely trading higher. amazon expected to put up a strong fourth quarter after the bell, but michael packard says the first -- amazon has been having a tough 2016 so far, down more than 10%, could make investors wonder whether or not it could reach raise its rec

let's go to europe where mark barton is seen stocks fall to the lowest level in more than a year. g what happened in asia and europe. is like a domino effect. mark: we were down 3.4%. this is the most significant action of the day. check this out. ,ooking at the 12 month chart because, from there to their -- that is -20%. betty: i can read this. best -20%. not the it is a bear market. marketse, china's bear happened from behind in december. hours happened from the record high in april. money moving into a fixed point. it has not been a good 2016. betty: it has not been a good 2016. we will be all over these declines for the next hour. mark: we well. howard davis from -- i sat down with him, and tom spoke to him earlier. he will be telling us about his view on investment banks. he said investment banks in the u.k. have to rethink services. michael franklin chief strategist will tell us about the market selloff today, and in 2016. you know him, -- he doesn't have his tec hat on, he has his political hat on. betty: he will have his bow tie on. mark: he will. he made his name. he is he

mark barton was there on be f of gun violence victims.his 7-year-old son was killed in the sandy hook elementary school shooting. others were concerned for their grandchildren. >>> coming up on 5:18, it's almost time. a fedex field full of fans will be cheering on the redskins when they take on the packer this weekend in playoff game. >> now, you know there are some fans who be cheering for the other side. right now we're checking in with our counterparts in wisconsin. good morning to you. you're wearing your green too. you look like you're ready for your game on sunday. we are too. go skins. >> absolutely. >> we're ready. up here, we're less end about our team going into the playoffs than we have for year, so it could well be your year. >> it's a long time coming for us. green bay has had a nice stretch of wins. we've been waiting. we have the home team advantage. >> do you feel people are trying to get amped up anyway for your team to have a good showing in the game? >> oh, yeah. oh, yeah. packers fans will never say die. we've still go