tv The Day - News in Review Deutsche Welle February 7, 2018 5:02am-5:31am CET
from new york to tokyo to frankfurt record losses and stock markets hemorrhage and yet no one is ready to give it a name tonight and imminent crash an overdue correction whatever it is we ask is there something more at work here something more than the money i'm burnt off in berlin this is the day. i. think it's probably because it looks as if it's going to continue it was a flash crash as a lot of these algorithms kick in to sell and there was a huge selloff in the market drop maybe a thousand points in just a few minutes but we've experienced over the last couple of years as almost have the normal lack of volatility. over start. the market needs of out of steam it's like a naughty child you have to let it get out of its systems or get
a new norm about having some normal volatility. also coming up a mother mourns her murdered son an exclusive report on loan for smith in kenya were being poor and a man can easily come with a death sentence. it's stateful off to fry instead brio has to go to the city mortuary for his own tipsy killing insufficient that this man this pungent twenty to fifty cooks is a right here every day almost killed by police. or we begin the day down and everywhere in between now if you own stocks i don't have to tell you that your investments since monday morning are awash in red stock markets have tanked around the world one day and today marking record losses punctuated by brief moments of relief that the bloodletting began in the us
yesterday during the monday session the dow plummeted by almost twelve. hundred points its biggest ever session drop in terms of cash the world's richest five hundred people lost about one hundred fourteen billion u.s. dollars now they lost contagion followed the sun and hit asian markets when they opened on tuesday japan's nikkei lost more than fifteen hundred points suffering its largest one day drop since one nine hundred ninety europe's erosion of equity values was then unavoidable indices in germany france and the u.k. were hit the euro stocks six hundred index saw its worst day of trading since the bragg vote so what does all of this mean and how can we put it in some context that goes beyond the numbers what we've got team coverage tonight that goes from europe across the atlantic to new york i'm happy to have here at the big table our very own business anchor daniel winters he's here with me davis good to have you and
from you guessed it the new york stock exchange the face that you know and trust the most from wall street our very own quarter yes it's good to see you i want to start with you yes can we give this a name at this point i mean what are you hearing there if it's not a crash is that a correction or is it a curveball that investors have to try to hit. technically it's a correction and nobody years talking about a crash or any problem panic selling and we would need to drop fifteen twenty percent of probably it to talk about depression or something like that but nobody uses this word over here at this point. and dana what about the rest of the world and what does this look like well it doesn't look good at the moment i mean as you said asian markets down european markets down. bond yields at a four year high as well but i think what we're starting to realize when we look at the analysis when we see that actually europe wasn't dragged down as far as it
could have been is that we're seeing investors realize it's a technical selloff that means the algorithms kick in and they start selling but when you look at the fundamentals the economy in the u.s. corporate earnings are doing really well that too and global growth is starting to sync up the warning lights just aren't flashing so we could start to see a pullback on this selloff and choppy trading as we're seeing today is kind of characteristic of. the fundamental fundamentals here are still solid absolutely they really are still sort of we're in a solid earning season in the u.s. and get the economy in the united states is back on track in fact that's what started all of this in the first place on friday with stronger than expected wage growth data which is expected to push up inflation that's what triggered it all and it seems things are going well and yet a bit of pessimism from the market from the robots and you get a word of where's the pessimism coming from whatever we want to call it the bar
with two of the on equity markets we know that it started in the u.s. and is there a sense that the political turmoil in washington could it be a kohls here. well i'm not sure if the political events play a major effect there right now i mean we have to saying on wall street that political forces have short legs meaning that political events usually do not really influence the stock prices for a really long time what is a stunning right now and what really makes of people think is not that we see a correction of seven eight nine or ten percent but this beat off it i mean yesterday it was in two minutes blue chips drop by five hundred points at the low of the day we saw the market selling off a sixteen hundred points after we already lost the six hundred sixty points on friday then today we were up at some point by over five hundred points then down by over five hundred sixty points so swings off a good thousand points was in
a few minutes or hours and that really makes people think about if something is off was the market structure itself in earlier today the former white house press secretary under president obama chimed in on the topic of mixing politics policy and stock markets take a look here at this tweet james carney tweeted good time to recall that in the previous administration we never boasted about the stock market even though the dow more than doubled on obama's watch because we knew two things one the stock market is not the economy and two if you claim the rise you oh the fall. now that was obviously on the mind of one reporter today he was traveling with the u.s. vice president i want you to listen here to part of the press conference the vice president and during his stop in japan i. think. i'm. going. to be.
generally and i don't know what it says any time change. but we could be more proud of the fact that. the stock market. increased by thousands of points so it's election day twenty sixteen. but but today's selloff represents. what is very likely simply the flow of our stock. market if you get that gentleman the ebb and flow this is these are title markets one hundred one that we're hearing from the vice president and yes i have to ask you you know we see the vice president trying to didn't distance himself from the u.s. president we know that president trump has repeatedly taken credit for stock market performance what do you hear on wall street do traders wish that the white house would just simply say nothing when it comes to the stock market. oh well
specially here on the floor most traitors i would say at least ninety percent are hard core republicans so they probably in general agree with what the president is saying but for sure it's probably not that advised to mention the stock market all the time psychology place shots of major factor and overall the economy does look pretty good it's more the depth of the fear that might increase that we might see higher interest rates what is so driving this stock market around and the stock market does not necessarily reflect the real economy so it probably would be better for the white house not to mention that the stock market and the dow jones industrial average soft restraint and i think it hurt anyone they know if there is a force in washington that can truly impact the way we see markets perform that is and it remains the u.s. federal reserve right yes and no because of course the fed acts on what's happening in the economy so they have to react to what's happening that they don't dictate the economy of course however it's very important that they get the timing right
and the extent of interest rate rises right because they don't want to alarm the markets now for those who want really sure what it means when you increase interest rates it makes borrowing more expensive so companies find it difficult to always more expensive to borrow and invest that money and that impacts impacts on the air of cheap money maybe over a question about that before we run out of time is this a a correction that we have heard that has been predicted or is this the correction that is long over due yes yes or no is it the correction that's long overdue. the correction is certainly overdue and we were just waiting for some kind of a trigger that came from the market but i have to repeat again the speeds and the volatility that we seeing right now that is breathtaking and shows that maybe something fundamental is off in the way how we traded stocks today and didn't overdo the correction it's absolutely overdue but whether it is enough whether
they've priced in the expected interest rate changes who knows we just have to wait and see and we will have to wait and see that's true you have scored in new york and then your winner here at the big table to both of you thank you very much. when would any legal system suspend the right to due process what could ever justify taking such a basic right away and kenya being a man and being poor appeared to be called enough tonight an exclusive report from a country where police are allegedly involved in a conspiracy to kill the poor in the slums of nairobi bodies of young poor men are turning up on the streets almost every day police claim that many were criminal suspects but they were killed before being arrested before facing charges or ever having a trial it was only after a whistleblower decided to act that news began to surface of kenya's alleged
underground war on the poor cloaked in the promise to reduce crime. brio has lost her son brian nineteen years old executed while having lunch. it's been two days and still feels like a terrible nightmare. for you. brian had aspired to become a reggae artist. it's day four after brian's death brian has to go to the city mortuary for his for tipsy filming is officially forbidden to smell this pungent twenty to fifty corpses arrive here every day
into. the. back home joyce shows as another chilling piece of evidence the images of brian and his dead friends broadcast on done door a crime free one of the many facebook pages that support extrajudicial killings. joyce says the police themselves posed the pictures to instill fear and labelled the victims as armed mile and criminals the independent medical legal unit in new in nairobi dr brian beach unger's a forensic expert for him cases like brian's are part of a larger pattern. being formed going if. you're more likely today from the police than from the group. there. is a lot of crime and police are trained for it but gives you a recipe for. the executed are overwhelmingly
young men and they are poor like brian the police call them criminals. the police claim the victims were caught stealing tech in their offices but for dr beach anger the corpses tell a different story. in two wards to be the n.t. ones to the head and to one's to the chest the objective or. the back in the head in the chest is not to immobilize you it's difficult to. be reached out to the office of the inspector general for an interview several times we also contacted the police as independent oversight authority for an official statement both repeatedly denied to double your requests for interviews in
person. one officer inside the system however is a willing to uncover the doings of nairobi's police but only anonymously he fears he would otherwise be killed as well he wants to be called modern cop and says he's against extrajudicial killings like that of brian. extrajudicial killings happen almost every other day everybody knows that there are extra judicial killings. it's impossible to give the exact figures but modern cop guesses about ten people are executed in nairobi slums every day that would make it more than three thousand five hundred police murders peja. modern cop explains the truth behind the posted photos of dead corpses he says that firearms are placed next to the victims by the police to show that they were aren't.
you will have to at least find a way to place a fake pistol and retaliate and say that the guy was also armed you go do your thing. but at the end of the day the concept is you must make the police look good however bad it is. so having fake guns on criminals that's true. and stay fifteen since brian's death his mother his family and friends lay him to rest and has rather an area. they lament that brian makes so many of the young man was stripped off to dish a process and his human rights life and death to.
thousands of extrajudicial killings in kenya have been covered up and unreported pass no tragedies hidden beneath the guise of police success. it's a sad sad that brian wasn't the last damn man in nairobi kenya. now that is a very disturbing story no doubt the reporter who brought that to us is here with me now in the studio w's melanie the ball it's good to have you on the show i have to ask you when we look at this is this a story that is just germane to nairobi or are there cases like this across kenya. right so this investigation i did the race took place in nairobi so i'm referring to other organizations and the very few data that they have published on this to
say that now it is not a problem and i'm privy and happens in other regions in kenya but in kind of a different context so for example in kisumu of stronghold of my don't think of the opposition party leader that extrajudicial killings happen but in the context of political unrest or you have the coastal area of mumbai where there is a large muslim population and in the fight against al shabaab counterterrorism strategies people get killed that but when it comes to fighting crime extrajudicial killings and the umbrella fighting crime he nairobi really is an outstanding awful place based on your reporting to be the message is being poor in nairobi kenya is tantamount to a death sentence it is for many people it really is you know crime is really rise in nairobi a lot of people even in coalition by robbery and the people at the police are
expected to fight this crime to take good if they have these young men living in the slums some of them in crime some x. criminals some on just innocent but they are certainly almost always prepped up in the stereotype of being a gang member being a criminal so they become these very easy targets for police who are under pressure to deliver to them promise of making the city a safer place if they're doing this i mean it's a horrible thing that is happening would be even more disturbing is that there are so many poor people who can be targets for these warring fauresmith forces is the thinking of beer that there are so many poor people so many poor people who are young men and if we kill them it's no one's really going. to miss them and we can we can use that to improve our p.r. is that the thinking there five s four we had in the report right here he had the
cup saying it happen and just nobody can and you know the president's awful so for them at this kind of easy to get rid of liberal someone in the slum then actually invest resources in arresting them there's a breach of this culture of impunity that the police uses in order to to live a success and they use social media i mean the facebook site website that you are showing is there the group. what happened to that group you said actually that as soon as this report aired it was gone right. that specific one the specific one so there are a lot of different groups they all have the name liked and are a crime free that will have the names of the difference mums in their. liking to make it a safe place and they are private groups you have to be a member was a member of them and i could see all of the pictures and there are plenty but yeah towards the end of last year that group into our crime prayed was taken off because
apparently one of the members had complained when we've heard facebook say that they're going to get tough on if no one complained and someone complains right right so someone must have complained right much or they just took it down by themselves but then the next day another one popped up which was not called and or a crime free but under a crime free society and there are so many so many more you no one does appears and there is just another two popping up there isn't it clearly not cracking down on a bridge that every very first reading you know you bring don't want another one pops back up in its place the kenyan government we have to stand has announced it is going to modernize the police service in the country. we don't to be cynical here but is there any reason to think that they will change this situation well first of all they would actually have to recognize a situation which they haven't done and part of that problem is because there is just not enough pressure on them to do so comedia hasn't really reported on this
and there's a lot of fear and censorship that's trying to buy it so the numbers that they report if they investigated or in the hundreds and on the thousands like alice sources have said and as long as these numbers on coming out and on brought up by other media companies maybe also international ones there will just not be enough pressure on them to actually change you know well we can only hope you know that stories this will help to be impetus for change in the legal system in could you know the crew of the war here her first big investigative piece by the way here of the w. excellent reporting that the military. well the winter olympics begin in south korea on friday and preparations are well underway in pyongyang the athletes' village is finished and competitors are arriving with a joint korean women's hockey team and the russian contingent hitting the headlines but there is one problem with the winter games by definition it's extremely cold.
yung chang is just around the corner the olympic flame currently on the final stretch of its tour of the country is only an hour's drive away and despite the limp excitement heating up it's really cold in south korea everyone including the i.o.c. big weeks on their inspection of the olympic village is wrapping up and warm. china is in the. province one of the coldest places in the country and it's particularly cold at the moment with temperatures dropping as low as minus twenty degrees celsius not a problem for the athletes who are used to cold weather but it could prove troublesome for the spectators during the opening ceremony that's. not bad for your hands and your feet in case they get forward all these i thank you question if you can say i want to keep you warm. and this blanket
to prosecute for. the games and i.o.c. president thomas buff in particular have political hurdles to overcome as well one such hurdle has been cleared with north and south korea taking part at the opening ceremony under a united flag and of course there will be pressure from moscow they want their athletes who had that reduced by the court of arbitration for sport last week to take part in the upcoming games. at the moment the athletes along with their legal representatives are examining the decision and they will decide what the next steps will be for all board. welcomes the athletes as they arrive in china how many of them will actually be allowed to compete in south korea will again be decided by the courts. well south korean authorities have quarantined twelve hundred security guards from the winter olympics after an al
break norovirus the government has now called in the army to provide security at the games but the games will go on the olympic torch is winding its way towards the host city in time for the opening ceremony this friday. a shipload of north korean musicians and singers and dancers are also on their way to the games the group will use the ship as accommodation. along with a squad of north korean officials they're on board to avoid what the north regards as ideological contamination in the south. so they don't catch the norovirus either talk about contagion contained within is nearly over the conversation continues online you'll find us on twitter either in the news or write to me and don't forget to use the hash tag today and remember whatever happens between now and tomorrow is another day we'll see you then at the.
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