rebounded. the fear is next time the market will not recover from a flash crash and hundreds of billions of dollars will be erased in a minute. that's our show for today. i'm ali velshi, thank you for joining us. joining us. >> rough ride - a nearly 600 point drop with fears about the global economy, and as markets open across asia, investors brace for the possibility of another bruising day. fierce storm. >> on a scale of one to 10, this is a 15. >> washington state battling large fires in the history, thousands fighting a ground campaign against the flames as
evacuees seek shelter where they can. >> crisis averted. after threats, artillery fire, north and south korea pull back from the brink. easing tensions on the boarder. >> the americans that stop the massacre. >> good evening, i'm antonio mora. this is al jazeera america. we begin with volatility. asian markets are open for trading, opening down significantly. tom have rebounded, the volatility is high, china's slowing economy sparked a sell off in europe, asia and the u.s.
global vestors are watching to see if it will continue to make waves in the conference on tuesday. >> looks like another roller-coaster in asia today. >> yes, i think the asia specific markets is reeling from what's happened on monday. of course, monday evening, where you are, but it's tuesday morning here, and the market is open within the last two hours. they have to say on everything that it's the chinese market, a globalizer is fluctuating. tes -- it's down 5-10%. what we are seeing is japan, tai yarn, south korea. they have a turn around. we are looking at their market increasing, getting back into the green by 1 foy 5%. tuesday, the market have only
just opened. it's a wait and see and watch and see how it reacts. surrounding china. it's down sting, but not as bad as m it was on monday. plus what it's lost today. a lot of people in china are investing in stocks than in the past. what is the mood among the chinese. >> yes, we've been trying to gauge that mood. when we've been on the streets, many of the local people that invest are of the the middle classes. in some case, what they have done is sold property or sold assets to invest in the market, and in some places taking loans. the market has dropped, and they have to repay the loans.
how is uncertain. they don't have any liquid cash. it's a very subdued quite concerned about what is going on. let's get an idea on how the national papers deal with it. the stocks are plummeting by 8.5%, and there's one that upsets investors on the front page. and also talk about how investment in manufacturing is to proceed. what type of policy china will pursue, becoming a manufacturing, perhaps more a consumer base, perhaps the way that is suggested to progress. how manufacturing is going to be affected by the downward slump in the currency and the market. again, a watch and see how the government will react to this. as far as we know, the publishing as a whole is intercepted immediately in the
near future. they are still doing grocery seconding and going on holiday. >> it will put pressure on the chinese government. good to have you with us. thank you. >> investors in the u.s. catch their breath after the worst trading day. s&p 500 lost about 685 billion in value today. john terrett is here to break down the 21st century's black monday, not nearly as bad as black monday in 1987, which was bad enough. >> funny you should mention that. it was worse. from 1987. in terms of how the market f, it wasn't as bad as all those years ago. whatever way you look at it, it was a panicked market. the broader market, the s&p 500,
and the nasdaq down between 3.5 and 4% on monday's session, that means the dow jones is down 16-00 potts over the loft four days. -- last four days. >> reporter: if you missed it live, you should pay passengers to the clean. the dow jones down more than 1,000 points at the start of monday morning trading. giving a snapshot at a given moment, and the in the tell you all the need to know. the dow bounced back. before finally closing down and closing down 588 points after 3.8 off. the reason for the anxiety and confusion. first the health of china's economy. 40% of profits of the u.s. corporations come through china, and the economy there is slowing. no one knows by how much. beijing says the economy is growing by 70%.
some reckon is could be lower. it could be 3-4%. couple of prospects in europe and uncertainty as to whether the federal research is about to raise confidence. now under $40 for the first time since february 2009. that is good for drivers, but terrible for countries and companies to get the oil out of the ground. all this helps to produce wild rides for stocks. it's not a good time to check a 401k. wait to see what happens on tuesday for that. antonio. the signs are that there'll be more pressure on share prices here. looking at what happens in asia, the main index are focussing on shanghai, down around 4% at the moment. the other interests in asia, places like sydney, australia, and the korean market and the
hang seng in hong kong flirting with positive territory. we'll see how it goes, starting in asia, moving on to europe, we'll have to wait and see. that's the latest. joined via skype. principal at the china market research group, as we have been saying. the shanghai, markets are rebounded, including hong kong and tokyo. the markets are stable. do you think they are hitting bottom. >> i mean, given what happened yesterday, the fear coming out of china was what happened. . it came in.
cooler heads previaled. maybe things are not like they used to be. we are close to the bottom. a lot of these markets with x factor. >> you are talking about chinese government. it trade to intervene in the markets to no avail. at this point i wonder whether it will. the one thing it does is avoid and has created volatility. recognising that. in terms of the quality, it doesn't matter, they'll spend money on rxv.
>> i know that stock markets don't gohand in hand with the economy. if it creates a crisis, consumers may not spend in china or the united states. those two economies, is there not a concern this could have worldwide ramifications. >> if you are an investor, 6% of house hands are invested and it is pcl investors investing small amounts of money, acts on retail deals, if the market needs to drop it will not be that strong. over the last week or so, the government essentially spent about $200 billion usd to foreign reserves to keep is close to the 6.4 rave that they let it drop to. so the number that is coming out
to support that right now. so that points to economic figures. and despite the losses, if you go back a year the markets are up. not the case with wall street. could they react to what is going on in china. >> if you look at the reaction on mondays. a 1,000 point drop. i think in some ways, it's a reaction. i don't think we need to be as worried as to how the u.s. companies are doing. my thought would be over the course of the year, the market stu come back. >> hopefully we had the correction. >> ben, and the china market research group - good to get your perspective from shanghai. >> 16 wildfires are burning across the pacific north-west. including the biggest in
washington state. we go to washington. sabrina, are fire-dehli making progress? >> they are making some progress. the winds are light, what they will be dealing with in a few hours is low humidity, and that makes everything challenging for fire-dehli. i want to mention as you said, i'm in north central washington, and we are having roughly 400 firefighters. the okanagan firefighter, more than 250,000 acres burnt. many communities are in jeopardy. 12,000 hotels -- homes have been destroyed, and others are
in jeopardy. there are thousands of evacuated residents. >> there's no welcome mat, but this tent is home for the parker family, they've been camping since fleeing their house a week ago. >> we left. we were in for four hours. when flames showed no signs of flowing. it's like a roman candle. the parkers are hard by alone. 30 miles away, the residents spent comfort sending stories. the tables are stocked with food
and supplying from this store and community donations. they have been absolutely phenom nam. they have made us feel so welcome and secure. they have character, feeding us. it will be a while before they have a home to return to. more than 1200 fire-dehli are working washington state's largest wildfire on record. more than 1200 burning here, growing rapidly, while the smokey stacked air works like a lid. poor visibility grounds an aerial all the. it's lit on the fire behaviour. it limits or prevents us using aviation assets to the fullest extent. >> with no reel relief in site. families like the parkers try to reach neighbours.
neighbours ignored evacuation orders, and refuse to leave the businesses. jessica leaves younger businesses. >> not good, where is it at, where is your fire at. it's at rick's house last night. >> for now, the family waits it out wondering what is next. >> and we know that the parkers talked to them a short time ago. they are camping a short time tonight. we don't know if their house is okay. >> our hearts go out to the families. a louisiana state trooper shot in the head during a traffic shot has died. trooper had stopped yesterday to check on a driver whose truck was in a ditch. that's when they say the driver opened fire with a sawn off shotgun. the driver is facing a first degree murder charge.
>> in new york city, there was a crash into a 3-story brick building, tearing out a large chunk of it. nine were injured in the wreck, including a bus driver and others on board. seven injuries were considered series, but everyone is expected to five. still ahead. diplomacy, military confrontation on the korean
peninsula. three young americans and a businessman who stopped an attack on a high speed train last friday received france's highest honour today. french president francis hollande awarded the league of honour to u.s. airman spencer stone. national guardsman and a college student anthony sadler. the men subdued the government. in the name of france i have to
thank you for what you did. since friday, the whole world is admiring courage and composure. the solidarity leading you empty-handed, empty-handed to tackle a man armed to the teeth, ready for anything. >> the suspect's attorney said he intended to rob people on board because he was hungry. french authorities say he was known to the security service and travelled to syria i.s.i.l. claims to have ex-chuted 30. the comments coming during a closed door meeting of the security council. antiquities officials used explosives to destroy a temple. the structure was believed to be 2,000 years old. u.n.e.s.c.o. called the destruction a war crime saying
those responsible must be held accountable. the president for turkey called for applications. struggling for a month to form a new coalition. president recep tayyip erdogan is expected to arriving the prime minister to put together an interim government tomorrow, and indicated the national ballot will take place on november 1st. south korean officials will stop airing pyongyang propaganda along the border. it's part of a deal aimed at diffusing detention. harry fawcett has details of the new agreement from seoul. >> after a session of talk lasting 33 hours, the head of south korea's delegation called a 2am news conference. claiming vindication. a dispute that began with a land mine blast in the southern side of the demilitarized zone, and escalated with a restarting at the cross-border loud speaker. a threat of a strike against
them was at an end. north korea expresses regret over the land mine incident in which two soldiers were injured. south korea in the absence of a normal situation will end all loud speaker broadcasts from noon, 25th of august. talking to the gunmen on saturday after a 48 hour deadline, boarder forces had been called to repair and mount surprise attacks. the north deployed 50 of 70 submarines, and double the amount of artillery on the border. the south korean president park geun-hye maintained a hard line, demanding a clear apology. it's how the north's expression of regret is termed. >> both sides want to portray the deal in the best light.
given the length of the talks, they were obviously going everything they could to avoid a dangers military explanation. now is the next us, whether they can live up to other promises made in the agreement. >> they agreed to prepare for a new round of agreements since the end of fighting in the korean war and arrange further talks, this time in seoul or pyongyang. notably absent, any sanctions imposed by sole after the shrinking of the war. north korea wants to talk soon about lifting those. those provoking a crisis no longer earns concession, an assertion that has do be judged over the come g months. >> going green for profit. businesses working towards environmentally friendly future could have a positive effect on the bottom line. and japanese whiskey arrived at
a massive iceberg has broken off from a glacier in greenland. scientists say at nearly 5 square miles, it may be the largest piece to breakaway. the u.s. space agency has been monitoring the glacier for several years and is one of the fastest moving ice sheets, an iceberg, it's believed, from that glacier sank the titanic in 2012 president obama urged americans to place their bets on solar power, and the president was there to deliver the keynote address. >> we'll make it easier for innovative home owners to put solar panels on the roof with no up-front costs, we are taking steps allowing more americans to join the revolution. >> much of the clean energy
summit focussed on alternate power use outside the home, particularly by businesses. jake ward explains why. >> it used to be the crack pot engineers and d.i.y. types, those building a business around clean energy. things like solar and wing power. this has usher the in a now kind of green. american companies used to go green because it was good, but now it's profitable. >> when i worked in clean energy, there was a few crack pot billionaires. they aimed to make the first in the airline. in the 1970s, dooup pond.
>> it will cut greenhouse by 55%. it's not only making a fortune selling alternatives to problematic floro carbons. the efficiency is the same amount declaring in properties. the environmental changes cause us to look at patterns abandoned from the last generation. if you look at the bridge, you see that the traffic into san francisco's ferry occurred on the top deck, when this bridge opened in the '30s, the top deck was for all cars going two directions. it's all that they need. the bottom deck was only for delivery vehicles, electric train systems running in two directions, now that concept may be worth another look. ryan runs a company that builds electric buses.
>> you have several thousands diesel buses onned road. the bus only has four miles per gallon, and they are running 40 miles a year. you figure out how many gallons of diesel or crude oil, that that gets through. >> a mass transit could be business. >> if california moved over to transportation, not only would it recall environmental benefits, but the food of the weeks would be locally produced. we have one of the greenest in terms of hydro electric. things like the clean. that changes the main set. where you can legitimately be
the brightest person in the room and choose clean energy. if you think about why people make so much funny, it's the technology can be improved, and what is around it can be improved. think about batteries, any time you see the phone die at the end of the day, that is the opportunity there. it's a technological failure. the green revolution. the opportunity to revolutionize that alone would open a huge newmarket. the spacecraft delivered samples of whiskey and other beverages, part of an experiment to see how the mellowness is effected my
microgravity, an identical control set of samples is restored. that's the latest from any time. head to aljazeera.com. ray suarez is next with "inside story". have a great night swooning stock exchanges followed the sun rise around the world. cun country after country, it bridges sell offs and declines. what was the match that lit the sell off feud. fumbling markets it's "inside story".