Trump blames US Fed for global set-off +++ Hurricane Michael cause havoc in the U.S. +++ Another bridge collapse in Italy

11. November 2018, 02:00

Trump blames US Fed for global set-off

European and Asian stocks are sharply down today after yesterday's massive sell-off on Wall Street. The big decline in trading saw 850 billion dollars wiped clean from the U.S. stock market. President Trump has blamed the U.S. national bank. He told reporters the Federal Reserve is raising interest rates too fast - making it more expensive for investors to borrow money:“I think the Fed is making a mistake. I think the Fed has gone crazy.”Nina Trentman, a reporter for the Wall Street Journal, says there are numerous reasons for the global sell-off.:“Of course we have a number of factors that are coming together, like, for example, Fed rates, but then also warnings by the IMF about global economic growth and outlook. We have trade tensions between the US and China. So there’s a lot of factors (as to) why stocks could go down.”

Hurricane Michael cause havoc in the U.S.

In the United States, Hurricane Michael has been downgraded to a tropical storm as it moves across Georgia towards the Carolinas. Michael slammed into the Florida panhandle yesterday, causing widespread destruction with winds of up to 250 kilometers an hour. One person was killed by a falling tree. Power to around 200,000 households is out and a curfew has been called in Panama City, following reports of looting. Aintrice McCormick lives in Panama City: “You can hear just about every tree cracking and breaking and the rain just hitting up against the house. If you’ve never experienced a hurricane or major storm, trust me, this is never something you never want to go through.”

Another bridge collapse in Italy

Torrential rain has caused a bridge to collapse on the Italian island of Sardinia. The collapse has cut the main road linking the capital Cagliari and Capoterra. No one was injured in the incident. Italy’s creaking infrastructure has come under fresh scrutiny following the collapse in bad weather of a bridge in Genoa back in August, killing 43 people.

Rescue effort stopped after Indonesian earthquake

Major search and rescue operations are ending today in the Indonesian city of Palu - nearly two weeks after it was hit by a devastating earthquake and tsunami. More than 2,000 people are known to have died in the natural disasters but 5,000 are still feared missing and many residents are angry at the decision to end the rescue effort so soon. The Indonesian government says it's imposed the deadline to stop the spread of disease.

Soyuz launch ends in emergency landing

The crew of a Russian Soyuz spacecraft has made an emergency landing in Kazakhstan, following the failure of its booster rockets shortly after take-off. Russian state television says the two crew members - one cosmonaut and one U.S. astronaut – have been located and neither required any medical attention.

The weather

Widespread sunshine throughout the afternoon. Some cloud and a few showers in the west. Top temperatures are ranging from 16 to 26 degrees.

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