The chief operating officer disagrees saying the government is to blame. Of course its about france. Its been a change in the outlook. Its a strong rating, aa, but we indeed believe the risks are increasingly tilted toward the downside. A blurry outlook at luxottica. Shares slump as the ceo steps down after just six weeks on the job. A Texas Health Care worker becomes the first person to contract ebola in the United States. The cdc says protocols must have been breached. Youre watching Worldwide Exchange bringing you Business News from around the globe. Welcome on this monday morning. The euro stock is shedding 2. 7 . And today its off. 6 following the lead from asia also down. The stoxx 50 is down. 40 . Look at the individual markets, germany had a massive 4. 4 . It continues today. The ftse is put on negative watch as a lagger down half a percent. Italy down. 40 . The u. S. Bond market is closed but its columbus day. On friday we saw the 30year go to the lowest levels in almost a year. The rush for safety which has happened in the u. S. Bond market happening in pretty much across the board. The 10year german is below. And the u. K. At 2. 2 seeing compression over last week with a relative safehaven in europe. Italy is at 2. 3 . And france is on 1. 25 . If you would have held out, you would have made 48 . Why would mario draghi do quantitative easing when he could have created this opportunity for the government to carry out supplies. Well look at the u. S. Dollar on friday, it was the first week in 13 that didnt post outright gains. We can understand why u. S. Equity risk assets are doing bad in the face of weak Global Growth, but why the dollar as well that is usually a safehaven trade. Today its at 1. 2673. The u. S. Dollar is weak against the yen, 107. 2. The aussie dollar bouncing back. 55. Well get a look at whats happening in asia overnight. Sri is standing by in singapore. Good morning. Reporter good morning, wilfred. Another big risk of the day for the asian markets following the slide on wall street. The better than expected china trade numbers for the month of september werent enough to really salvage the markets. Yes, we saw a degree of composure on the hang seng, which is interesting considering thats the occupy movement that is not giving up. They are not backing down despite the fact that the ceo said they have zero chance of succeeding. The shanghai composite did pay back some of the losses today. And ended at 2,366. Despite the fact, as i said, that we have better than expected trade numbers. But theres still underlying stress in the broad economy. You cant ignore that. You mentioned japan is off today for sports day. So thats really taking the wind out of some of the volumes and the activities. This is probably one of the reasons we are seeing the outsized losses in the broader market, but expect to see more volatility before the week is done. We have a lot of data on the docket stateside speaking to boston fed, that is janette yellen. Wilfred, back to you in london. Thank you very much. Just spoke to bank of japan governor on the sidelines of the Imf World Bank annual meeting in washington, d. C. And asked whether he was concerned about recent market volatility. It is true that in the last couple of weeks volatility in the u. S. Markets including currency markets, stock markets, have increased somewhat. But still the numbers are quite low. And if anything the imf was concerned about the low level of volatilities in various financial markets. And if theres any trend of diversion, extreme low volatilities would as some say may go up. So in the last couple of weeks, suddenly volatilities have slightly been heightened. But the number is still low. And as politics genuinely are concerned, basically the dollar has appreciated, not just against the yen, but against the euro, against economic currencies, frequent currencies, as well as russian and european currencies. Kuroda also cautioned that the trend could be short lived. Lower oil prices are good for asia because asia is the largest import in the world. Not just japan but korea, china, india, pakistan. Even indonesia now is an oil importer. So asia has a whole is a huge oil importer. And the grind on prices would be very beneficial to the entire asian economists, also for china, pakistan, and so on. But having said that, oil prices tend to fluctuate. At this stage, destate the heightened geopolitical risks in the middle east, somehow Oil Prices Continue to climb. Maybe increased supply by some african countries or substantial increase to Energy Production in this country in the u. S. So this is a surprise factor, which might reduce oil prices. And joining us now is gotham veteran strategist. I want to talk about the markets last week, what was driving that . Its a combination of concerns of qe coming to an end, some witness the political growth, the geopolitical risks we are seeing around the world. And people were a bit too extended into risk. And so its a natural cause. Remember, we are also in the season of a volatile period of october. I dont think it will be too much different this time around also. If this is led by fears over European Growth and general growth n particular, why was the u. S. Moving so heavily to the downside as well . I think the u. S. Ultimately fell, but if you look at how much the u. S. Is falling compared to European Markets, its half what the European Markets have done. So it is a case of sentiment driving the u. S. To a certain degree. There are some concerns about industry policy in the u. S. And around fed inflection points we do get volatility this time out. So the u. S. Is kind of playing catchup. And in the u. S. , it feels like it could have another couple of sessions to just bottom out where the levels are. But europe, i think, has seen the selloff. And interestingly, its probably a good value right now. Earnings will take center stage in the u. S. Analysts saying 4. 5 jump in profitability this earning season. Do you think earnings could, in fact, provide a rescue to the stock market . Absolutely. Thats what we see in the Current Quarter with earnings kicking it off. You have 50 Companies Reporting this week. And that will give us a good cue. And overall earnings have been relatively robust. The weakness we have seen in europe, we have seen the negative side of it, but what we havent yet seen is the impact of the ecb stimulus measure. These are only just beginning to come through. So we are kind of reacting in the lagging way, the Economic Conditions knew we were going to slow down, but we are looking forward to the possibility that the Balance Sheet is going to be marketedly higher as we progress. In terms of where one should allocate their capital, Goldman Sachs is recommending clients to focus on companies with high domestic sales in the u. S. Do you think thats a good strategy Going Forward . The u. S. Economy is definitely leading the way. It is also a pricier market. So i think if you want to be absolutely defensive and thats clearly the right place to go. But the way the markets have moved right now, i think some of the industrials, some of the cyclical stocks, some of those less effective by duration at the long end might actually fare relatively well because there are pockets of value now emerging. Gautum, stick with us. Well chat more in a moment. The bank of england president mark carney sat down with cnbcs mike liesman this weekend. Hear what he had to say at 6 00 a. M. Eastern time. Coming up on the show, twitter beats apple and facebook in the race to control your money transfers, but do you trust paying via a tweet . Let us know your thoughts. And chrysler is shifting up a gear with a new york stock listing passing a crucial milemarker on his expansion plan. The ceo will speak to phil lebeau first on cnbc straight after ringing the u. S. Opening bell and we get a preview. And as Cloud Storage provider box is ready to unwrap their ipo . Find without the phil levy. This is a burrito made with chocolate, soybeans, and apricots. What kind of chef comes up with this . A chef working with ibm watson, on the cloud. Ingredients are just data. Watson turns big data into new ideas. And not just for food. Watson is working with doctors and bankers to help transform their industries. Today theres a new way to work. And its made with ibm. A single ember that escapes from a wildfire can travel more than a mile. That single ember can ignite and destroy your home or even your community you cant control where that ember will land only what happens when it does get fire adapted now at fireadapted. Org amid the concern over a slowdown in the eurozone, s p cuts frances outlack to negative friday evening after concerns over the countrys economic recovery. The news came just as the interview happened with frances finance minister. This was his Immediate Reaction. Translator i wish we would have better news and not worse news given the kind of policies we are implementing. What i want to say also is that france today has a policy based on two principles. First, we have to lower the charges imposed on companies. And thats what were doing to get more competitiveness to our companies, to allow them to work better, to innovate, to hire people. Second, we come up with savings. For several years during previous governments, we solved fis value problems by selling taxes. Thats over. We lowered them for our companies and we financed Companies Like never don we are today. Can i just followup with that question then . Because theres been a downgrade on a Credit Rating on the outlook for the Credit Rating. How do you respond to Credit Rating moves . Translator s p has changed its outlook on a lot of European Countries recently so its all over the euro zone. Its not country specific. We have maintained our aa rating. Its the outlook changing on many countries and this is why i was saying earlier, its not a matter of looking at france in isolation. Its a eurozone issue and the eurozone needs stronger growth to face todays challenges. Now it wasnt just france, the s p also stripped finland of its prized aa Credit Rating to aaa. So it is france and finland. Interestingly enough, if you look at the other countries with a aaarating, we can go full screen with countries rated at aaa, canada, denmark, germany, l lexembourg, norway, singapore, sweden and switzerland. A downgrade for france over the weekend. Gautum, we are hearing it is not a france specific issue and a eurozone issue. Is that fair . That is fair. The normal levels we are seeing does make debt sustainability a problem. The ecb is trying to make sure the total rates are low, the spreads are low and overall that the inflation outlook improves such that we can get high normal growth and thats the key to debt sustainability. I also want to bring up the finland downgrade because specifically they cited worsening demographics leading to stagnant growth for many years to come. Interesting that they pointed to that as a reason. And does that mean that the next on the list could well be germany given their demographics are worse anything as well . I think demographics for all major sort of economies, developed economies are worse anything. Its a case of population growth and aging population. And thats not really just a problem thats the eurozones. Its also to the u. K. And japan. So we are all heading down that road and it just becomes more imperative to work at the core and to deliver some inflation. And obviously lots of discussion goes on as to whether well see outright quantitative easing in order to get inflation, but bond yields are at such low levels, wont mr. Draghi be saying, look, guys, i created an opportunity for you to carry out supply forms. Its up to you now. I think he could but he wont. Hes been able to push through a lot and is not going to stop now. Its really important that the markets see that draghi is pretty much going full throttle and is encountering the german opposition and, you know, not facing it headon but sidestepping to deliver the policies of better asset market performance, which is the key to confidence and delivering that sustainable growth, which is still a long way away yet. So i dont think hell be easing up any time soon. Gautam, thank you for joining us. That was gautam patra. And bps offering to be the first to offer payments over twitter. The website in particular beat rivals like facebook to incorporate this technology. If it continues, this will happen after the launch buy button was released last week. Would you feel comfortable transferring money over any social platform . Join the conversation on Worldwide Exchange and get in touch with us at worldwide cnbc. Com, tweet us cbswex or the handle is at the bottom of the screen. The social Media Companies could be seen as a rising threat to the banks as they look to strengthen their payment business, which will be Something Interesting to watch. I think this is a big threat to ecommerce companies. And we talked about this a lot when the alibaba ipo came down and how much people based evaluation on 80 of the market share, but that doesnt include social media stocks having a say in the ecommerce business and these click to buy buttons entries to Payment Companies could disrupt this. Bring us your thoughts on that story as well. Shares in chinese developer agile tanked after the founder and chairman chen li zen. Agile also recently called off a rights issue but they assured shareholders they are financially sound. Lets dive into the stock moves so far today. The luxottica shares are slumping after news that the coceo is set to resign only six weeks into the job. According to reuters, the move comes after disagreements with the companys chairman and founder. Citigroup cut the stock to new thrall on the announcement. Claudia is joining us with more. Claudia . Reporter yes, we are seeing the stock take quite a hit this morning as you were mentioning. It was suspended limit down at the start of trade. The stock clearly suffering from this uncertainty. He has resigned after only six weeks at his new post. He took the place of the ceo after ten years. Enrico cavatorta is stepping down because apparently one of the people being evaluated for this position was somebody that v cavatorta did not feel like he could work with. Looking behind this, its a family issue. The major shareholder has six children and one of these children, the eldest, is on the board and has announced that this one child, this one son will not be on the board when it is renewed at the end of december. Now, this these shareholder issues are affecting management and as you can see the market is doubtful as to this not having any consequences. Well see the stock up today but well get more news out tonight whats going on behind the scenes at luxottica. Thats the worst performer by far. Back to you. Claudia, thank you. Maria silva who finished third in the brazil election is giving her endorsement to aecio neves. Neves hopes the 22 million that backed silva will back him when he battles on october 26th in the regular election. Well talk about this from capital economic this is morning, seema, that cited slow growth is a permanent fixture among the most Dynamic World of economies. And this is the head of emerging markets. This is the new normal for emerging markets. This is a lot to change in the outlook for emerging markets. For so many as advanced economies, the situation is slowly changing between the u. S. And the u. K. Being seen as the bright spots when you take a look at where we are actually seeing the growth. And the other big thing for viewers and investors is not what is happening fundamentally in the economies. When we go into a stronger dollar environment, its whats happening to fund flows n particular, which economies tend to react negatively when the dollar strengthens. And the impact on corporate earnings when they come out in the u. S. Still to come on the show, russias finance minister tells cnbc his country is open for business. Find out why he says Foreign Companies shouldnt be afraid to invest in the sanctionshit country coming up after the break. Youre watching Worldwide Exchange. Bringing you Business News from around the globe, if. European shares open lower despite the heavy losses last week. The bank of japan governor tells cnbc its a healthy correction. I dont think at this moment there is a bubble developing in the financial market. France fights back. The countrys finance minister tells cnbc its outlook downgrade is a european issue, but s ps chief rating officer disagrees telling us the government is to blame. Of course it is about france. Its been a change in the outlook. Theres information on the rating, its a strong rating, aa, but we indeed think that the risks are increasingly tilted toward the downside. A blurry outlook at luxottica. Shares in the italian eyewear maker after the ceo steps down just six weeks into the job. And a Texas Health Care worker becomes the first person to contract ebola in the United States. The cdc says protocols must have been breached. Lets get you a check on the European Markets. Renewed concerns over Global Growth and down beat data out of germany weighed on european stock last week. In fact, they are trading at a oneyear low with the xetradax lose as much as 2 . The German Market is up. 2 . The italian market is in the green. France and the ftse 100 are slightly trading positive for the session. And the u. S. Stocks are closed for columbus day but on friday the tenyear went to 2. 3 and thirdyear go to the lowest level for a year. If we look across the rest of the European Market