as of yesterday, it has been restored and rebranded as the waldorf astoria's latest luxury hotel. lavishedlace hotel luxury on the visiting the laments. things like phones, hot water, and elevators. costingwaldorf astoria $5,000 a night, guests can expect more. the finest italian furnishings, a magnificent atrium with drop-down windows, stunning chandeliers. >> how much of the cost? >> about $200,000 each. >> my favorite feature in this hotel has to be this, a tv embedded in your bathroom mirror. what more could you want and be able to watch bloomberg tv well you're having a shave? >> sitting in a restaurant that was one -- once a stable, it was tougher than expected. >> the main challenge was to restore the original facade from 1929 while we were adding additional meeting rooms and the biggest ballroom in the area. of theous staircase palace hotel, we had to build the same way as it was before. >> it took six years and $150 million to rebuild the hotel. the taxome home to ministry. overcoming israel's byzantine planning laws took even longer. projectstarted this years ago. i am v

architect, but the waldorf astoria should last longer than the original hotel.iott gotkine, bloomberg, jerusalem. >> tv in the mirror. why did i never think of that? >> we have about an hour of the trading session in new york, of course. we're joined now by jonathan ferro is because been covering the tech selloff as it has developed in the u.s. and to some extent flowed through into asia and into europe. worst daysaving its since 2011. stocks down across the board. when i look at the stoxx 600 are pretty down by industry group, guess which is the bigger decliner? it is tech. you see this playing out not just in the u.s., in asia. it is playing out in europe this morning quite clearly. >> we have the gdp number out of china. dother this has anything to with fundamental concerns about the growth story across the world we don't know, but we will be focusing on that next week. >> are a terrible -- pretty terrible. an eye on these tech stocks as we go through the day. thank you, guy johnson and i will be back in just a minute or two with "the pulse." cia just a few m

sort of similar to the waldorf astoria in new york.e taste the original architect, but the waldorf astoria should last longer than the original hotel. just ahead, the tech selloff continues in the u.s. just as earning seasons kicks off. we will see which companies fell the most. ♪ >> welcome back. this is "countdown." i'm mark barton. seven minutes away from the european equity session. the top macro themes. you better start with technology. >> a remarkable selloff. many people expected it. here it is come a big selloff, the nasdaq down the most since 2011, some big names amongst them. netflix, google, all coming off highs for the year. all time highs. that is really the point, coming off all-time highs. >> before yesterday's fall, earlier this week i think i read a stat that 40 or so companies on the s&p 500 are down from their high, and the average decline is nine percent or something like that. >> it's on the screen right now. >> there you go. but we are not at valuation levels that we were back in the late 1900s -- the 1990's? >> w

drinking day for you and i, at all, because when you're hosting that, you're up on the dais at the waldorf astoriand we are literally in between the -- whoever is speaking, huge speakers, so any little bite of lunch you take or any sip you take, the whole world is going to see it. >> you can't eat. you're starving because you're in the -- on the jumbo tron the whole thing. and you sit there like this looking at your food wishing you could eat it and you can't. >> and your wine. and would you like a sip. >> i want to drink it. >> okay, so anyway, hoda brought a little rap and congratulations to everybody that won. >> amazing, amazing ladies. >> and everybody deserving. and it was so freaking freezing there. i'm menopausal. i'm post menopausal. i'm post, post menopausal. i'm half dead. but i am always hot. right? i'm like this, in a little -- it is so -- and there is a vent, so i already have a severe herniated disc, going to physical therapy for a month now, three times a week. i'm like this, when it is finally over, these things take -- two and a half hours. i say good-bye, bye, hodi, they give yo

we have heard the name waldorf, astoria and it is named after that. we started importing musical instruments from england and exported furs from the north american continent to londoned. he was a very focused, driven toward his bottom line. meticilous in his planning. he spent years laying the ground work for this expedition. in all of his planning and preparation, he had not allowed for one major factor. mountain climbers talk about exposure meaning the risk in a situation. on a cliff when a small mistake can result in major consequen consequences. in 1810, this far wild edge of the north american continent with his brutal storms, hostile neighbors, difficulty of communication, vulnerability to empires, exposed as any habitable place on earth nor was it able to what this would do on to the men chosen to host the empire. under stress, each one succumsu to traits. this trading scheme joined the dream of two powerful men. astor would dominate the market, pacific rim trade and reef profits as would his fur trader partners. through john jacob astor, presi

but we could take each one of these inmates and put them up at the waldorf astoria hotel in new yorkth with room service and still not get to the amount of money we're spending every year for them. does that make sense? (sirens blaring) >> narrator: it costs the state an average of $87,000 a year to incarcerate a child. kentucky spends more than $50 million annually locking up juveniles, most of whom have never committed a violent offense. >> we need to distinguish between who we're mad at and who we're afraid of. the united states comprises about four and a half to five percent of the world's population, yet we incarcerate 24% to 25% of the world's prisoners. and then you look at kentucky, and over the past decade, from about 2010 backward to about '99, we had a prison growth rate of 45%. the average for the rest of the country was 13%. kentucky had truly become the epicenter for prison growth. our spending jumped almost 220% to nearly half a billion dollars. (bell ringing) >> narrator: now states like kentucky can no longer afford this growth and are trying to reduce their prison p

we have heard the name waldorf, astoria and it is named after that. we started importing musical instruments from england and exported furs from the north american continent to londoned. he was a very focused, driven toward his bottom line. meticilous in his planning. he spent years laying the ground work for this expedition. in all of his planning and preparation, he had not allowed for one major factor. mountain climbers talk about exposure meaning the risk in a situation. on a cliff when a small mistake can result in major consequen consequences. in 1810, this far wild edge of the north american continent with his brutal storms, hostile neighbors, difficulty of communication, vulnerability to empires, exposed as any habitable place on earth nor was it able to what this would do on to the men chosen to host the empire. under stress, each one succumsu to traits. this trading scheme joined the dream of two powerful men. astor would dominate the market, pacific rim trade and reef profits as would his fur trader partners. through john jacob astor, presi