tuesday's downgrades follow a single notch cut in the rating of major french commercial bank bnp paribas last week. which are being devalued due to concerns over the issues country's fiscal 4e89. european debt problems are starting to affect u.s. institutions wel. go goldman sachs. >>> u.s. stocks reversed most from the previous day largely on hopes of a rescue plan for eurozone economies. this wednesday morning we cross over to remine. a bit of mixed news regarding the eurozone issue. but some mixed earnings reports as well. but how are stocks here reporting to that? >> mixed signals indeed. there was a report from a british paper earlier saying that plans were in place for a larger than expected refinancing amount to help weaker eurozone economies. and there was another report following that from other media firms actually squashing that news and saying that it was incorrect. the u.s. stocks actually ended higher on that news. but currencies actually painted a different picture. let's have a look at the opening levels for the topix right now. trading higher. we have seen the nikkei up

bnp paribas is up over 9%. you are right that there are some very big events still to be held. a big event behind closed doors -- presidents are cozy will start talks with the chinese president -- president sarkozy will start talks with the chinese president. they will make sure they can get the money they need to quadruple the bailout fund to insure against further losses. there are big events still to be held. for him personally tonight, domestically, he has to put some flesh on the bones. last night he said, "please don't ask me any complicated questions." tonight he will appear in french prime-time television for his first interview since february. he will be grilled on what this means, not just for europe, but also for the french taxpayer. >> the message is clear. the deal is done. we're not out of the woods yet. thank you to you both. now to some of the other stories making headlines around the world. the death toll from a major earthquake that hit eastern turkey has climbed to 533. rescuers continued to search through the rubble, but hope is fading. many survivors have c

of the libyan regime paribas the war which of course when the or some kind of proxies with a baby all those. i think that is really the issue this is a country which has not followed the last of the law and. we like because we are not the president of the united states is the role model for kids speech this afternoon is an absolute it's part of line he's telling the. little but issue with the rather scary and the buffet which was created by nature. with mark penn style but i spoke to both replies by the number for the claim and then tell us that that goes with million casualties they were proud provisions. and a lot of the images that you just showed by the group of gold which cut off it was busted. by by you know by these rebel forces which in fact documents are largely integrated by al qaida but isha nonetheless michelle in the ass on the flipside of this question it certainly is you know i hear what you're saying in terms of the u.s. wanting to have control of that oil reserves but why now certainly and there was plenty of oil there back in in two thousand to twenty that mass atroc

bnp paribas and societe againe is down and ubs and credit suisse down 2% so they're feeling the heat on the back of the ongoing concerns over greece. >> the banks getting hit and not the to mention the banks ov overnight in the u.s. faking a hit. first, doesn't this look familiar. losses across the board. shanghai is not here because the market there is closed for the national holiday. elsewhere the debt crisis continuing to weigh pretty significantly on the markets. the kospi had been down well over 5%. closing down by 3.6%. was playing catch-up. closed for korea's national holiday. nikkei lost, 846,000 yen, above its low it hit after the quake and tsunami sydney. down another 2/3 of 1% and the hang seng down.64%. there was one ray of sunshine here in hong kong. that was the casino stocks that are listed here. several of them bucking the trend. but remember this comes after big losses yesterday. some of these companies down between 11% and 20%. 26% was the worst one yesterday and that came after an hsbc survey suggested that china's growth is slowing which means less recreational sp

and as you can see, the cac 40 is leading the charge up, 2.25% largely thanks to paribas, staging quitebit of a recovery in today's session. >> oh, yes, but you wonder whether it's just a bear market bounce going on there in europe at the moment. certainly it was much more of a mixed day here in asia. hong kong and shanghai both closed today for national holidays. we'll look at the markets that were open. the seoul kospi with the biggest loser, down 4% or so yesterday, down another 2% today. the nikkei also fell. it was up earlier on the back of those pretty strong u.s. performance on the dow and the s&p. but italy's credit rating downgrade plus the dexia rattling the markets here. and in australia, up by 1.4%, helped by stronger commodity prices, also helped by better than expected retail sales. >>> on wall street, there was a bit of a late surge in afternoon action. and we saw stocks making quite a bit of a comeback by the end of trading on tuesday. that came after those reports i was talking about before that european finance ministers were focusing very closely on propping up strugg

having us on 9/11 or military bases in saudi arabia, there was one, the 9/11 commission conceded that pariba. they said is the constant bombing and killing of many people in iraq for over 10 years which was challenged on national tv to madeleine albright and she acknowledged that yes, probably 500,000 died but that is the price you have to pay. those are the reasons they gave for doing it. it is very real. another good example of this is when the occupation stops, the terrorist attacks stop. lebanon is a perfect example. we went into lebanon in the early 1980's and we were seen as occupiers. we were attacked and to order 41 marines were killed by suicide terrorists. eventually, we left soon after that and the french and israelis left her there was no more suicide terrorism. it's just stop like that. this is worth looking into. when ronald reagan wrote his memoirs, he said he would never turn tail and run but he did because he had not realized the irrationality of the policies in that region. he said he had been -- he said if he had followed a policy of neutrality, those marines would still b