bottom. when it comes to steering the economy, we'll tell you how beijing is being penned in by china's soaring pork prices. stock markets are up, but after the collapse of confidence that's hammered equities over the past few sessions, investors are wondering whether the panic is really over. tuesday's federal reserve meeting appears to have been the trigger for the rally in europe. the gains there partially reversing the spectacular falls of recent days. european indices are heading higher. a asia followed that swing. the dow posted its biggest gain this year. here in hong kong the stock exchange has just closed. the hang seng recovered some of that but still has quite a way to go. it lost almost 12% of its value over the past three sessions of decline. nina? >> andrew, none of these markets are down in the double digits. let's see how they're doing just an hour into the trading session. we've got, for instance, the dax up in excess of 1.75%. and the ftse 100 and the zurich smi. we have central banks like, for instance, the federal reserve coming out with statements saying it's going to be keeping rates on hold for at least the next two years to come. we did see the dollar falling in response to that yesterday, but now what we're seeing at the moment is a little bit of strength in the euro at 1.4373 against the greenback, 1.6251 is where the british is and the yen is at 76.70 at the moment. here in asia the markets have closed obviously, and the relief rally we first saw in the u.s. certainly spreading across this part of the world. take a look at australia. it's up 2.6%. shanghai up by almost 1%. the nikkei up by more than one. back to australia for a moment, there's been welcome news for the budget airline tiger airways. almost six weeks after its planes were grounded by the country's airline safety regulator, tiger aways australia is preparing to take to the skies again. the ban of its flights has been lifted. the share prices you see there already soaring up by nearly 2%. turning now to a ban of a different sort, a court? germany ordered samsung to stop selling the tablet in certain areas. it's a major victory for apple in its long-running legal battle in a battle that will take a bite out of its market. the galaxy tab copies several features from the ipad. it's expected to appeal the ruling. samsung down by about .5%, nina. let's circle back and take a look at what happened on wall street on tuesday. as we were saying, stock markets there rallied on the back of the news that the u.s. federal reserve plans to keep interest rates at historic lows for another two years to come. america's central bank also said it's prepared to use a range of tools to keep the u.s. economy afloat. here is how things looked at the close. the dow jones industrial average was up nearly 430 points. the nasdaq gained more than 5% as you can see on the chart. the s&p 500, the broader index ended the day up about 4.75 of one percent. significant gains there. >> absolutely. after what we've seen over the past few days, very nice to see that. the reversal wasn't particularly smooth on the dow. the index opened at around 10,800 points. it was up and down pretty much all day long, but it fell to 10,600 after the announcement by the u.s. federal reserve. and then the rally started, leaving it nearly, as you know, 4% higher by the close of trading. that rally may have been short lived because u.s. markets appear to be on course for a lower open when trading begins on wednesday. this is where futures currently stand in the pre market action. we can take a look at those numbers now. maybe we can't. there they are. the dow is absolutely flat at the moment. it was down earlier in the day. the nasdaq composite showing losses around .35%. pretty much the same with the broader s&p. remember these are volatile numbers as we lead up to the opening of wall street. it looks like we'll be seeing more volatility on the markets in the days and weeks ahead. that's a message we heard from a number of traders on the floor of the new york stock exchange. >> reporter: the market will continue to turn as long as there's a lot of uncertainty. there's political uncertainty both here and abroad, economic uncertainty both here and abroad. until you start to see stabilization of the macro reports, and the macro even more than the political is going to be what the market focuses on. they want to see better manufacturing numbers, better growth numbers, jobs created. you start seeing that not only here but abroad, then you'll see the tone of the market change immediately. >> ken pocari is not the only one with reservations. earlier our pauline chu spoke with the founder of the kwon taum fund, jim rogers. >> here in ab yeah it means mass destruction of currencies an inflation all over the world. we're all making money off of it. but it's terrible, terrible news. now you have more currency debasement and more inflation. >> you had been bullish on the yuan and the aussie dollar. does that mean your view changed on this? >> no. this is making them go up. the aussie dollar is about to rally because of this. you see the u.s. dollar. >> reporter: going down because people realize, well, they're just going to print more money. they're going to keep interest rates artificially low. this is not good for america. this is not good for the world. >> jim rogers there, pretty discouraging view. he has been a long-term and loud bear when it comes to u.s. economic policy. more now on the outlook form the markets. let's go to etx capital senior trader who joins us live from london. we saw the relief rally. it's kicked and to asia and to europe. how much of that is ben bernanke? >> well, it's ben bernanke to a certain extent. looking at the markets they were relatively over sold. we saw the equity markets selling off dpor almost two weeks now. we got to the point whereas set prices were extremely cheap. selling was indiscriminate across the board. even quality assets getting sold off sharply as well. therefore, value investors came into the market, and the markets pushed higher. ben bernanke has had a positive effect by keeping interest rates on hold at the current level till mid 2013. what could have boosted equity prices higher is if you talked about qe 3. >> absolutely. do you think just by saying interest rates are going to be kept on hold and they do have tools to use if necessary is going to be enough, or would you expect qe 3 to happen? >> i do expect qe 3 to happen at some point in the near future. i don't think the u.s. administration has much left in termination of tools in order to spur economic growth. whether this will spur economic growth is something entirely different. what we've seen with qe 1 and qe2 is asset prigss. equities and commodities have moved higher. that doesn't necessarily reflect on the economy as well. we haven't seen a move higher in economic growth. this is what i feel will happen with qe 3 as well. >> we've got some better clarity, i guess, after ben bernanke's speech yesterday. what about the eurozone, though? what about the black hole of the debt crisis. that is still such an uncertain outlook. that is going to remain a big drag on equities, isn't it? >> it will in the longer term. what we've seen in the last few years certainly with the ecb stepping into the market and buying italian and spanish debt, we've seen the yields on the ten-year notes come down quite dramatically. they were trading above 6% previously with greece, ireland and portugal, once their ten-year yields traded at 7%, they turned around and said we need bailing out because our interest levels are unsustainable levels. fortunately for italy and spain those yields have come back around to around 5%. hopefully they'll continue to come back down. if they don't, it's very difficult for the eu and the ecb because they have very little left. >> okay. we've had a pretty healthy bounce on wall street. asia wasn't bad either. europe not so strong. where do you think the market is going to go from here over the next couple weeks, over the short term? >> over the near term i expect trading to remain fairly choppy when we're seeing these bouncs.s if we start to see the economic factors kick back in again, the negative economic factors, it's unfortunately back down again and we could see another wave of selling coming into the markets. >> all right, manoj, thanks so much for joining us. britain ice prime minister at this hour is chairing his second emergency meeting in two days. tuesday was a quiet night in london, violence ripped through other british cities. in a moment we'll look how rioting is impacting the british economy and british business. stay with us. 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people frightened for their lives last night. >> fortunately we did not see a repeat of that kind of violence in eeling last night. it was sporadic and isolated. a lot of communities fighting back. a lot of people standing guard by their shops, trying to identify people on twitter on who might have been looting in their neighborhood. we're starting to see not just the police on the streets but the community trying to take a stand. >> obviously social media has played a significant roll in helping to rally these thugs on the streets of london unwit inningly. we should talk about income and equality. in the united king done, many 16 and 17-year-olds unemployed. that rate is rising. is that part of the reason we're seeing these riots? >> i think it's a big part of it. just from talking to some of these younger kids, when i was out on sunday night and when i was in brickston the other day, there's a lot of frustration and anger. this is basically a venting of that frustration and anger. a lot of them said we don't have job prospects. we don't know what's going to happen if we get out of school. their benefits have been cut. something as small as youth clubs, budgets for youth clubs being totally slashed and now they're gone. that means these kids have nothing to do. they're out on the streets and basically looking for trouble. the recession has hit them hard, unemployed is high. they're angry, they're frustrated. they don't seem to know of any other way to get -- to be heard. this seems to be their way of doing it. it's not right. doesn't excuse it, but it may explain a little bit of what's happening. >> then again, not the only people facing cuts. the police force is having to get on the streets and deal with this day after day has also faced cuts. what about the policing of all of this? it seems as though david cameron has taken quite a bit of flack for that. >> he is. he's taking a lot of heat for it. the idea that the mayor and prime minister didn't come back until after three days of rioting, that's something staying in the public's mind. things are quiet in london, but it took 16,000 cops on the streets. a lot of people say it could have taken leps if they nipped this in the bud earlier. the cuts have really affected police staffing as well. so the police now have to say, well, how are we going to manage these kinds of disturbances? are we going to see more of them if we see our own budgets being cut? this is what boris johnson, the mayor, is saying this morning, maybe we should take another look at how we're cutting police budgets. >> atika shubert, thank you very much for that insight. andrew? britain's chamber of commerce sees the riot's economic effects as potentially reaching far beyond property damage, calling on the government to act quickly and decisively to minimize the impact. >> what our members are saying is that this could have a profound impact on the economy, and the government needs to be seen to act and deal with it. this is not just about a few streets in london, but this is about businesses having to send their employees home early. it's about businesses having to close, restaurants have to close which at a very time when we have a very fragile economy is the last thing that we need. >> interesting side note here, too. amazon.com has apparently removed a police night stick from its uk site after the weapon suddenly became one of the top-selling items. also on the list of top-selling items, baseball bats. it's not clear who was buying them or why. fires blazed and police battled protesters with teargas and water cannon in the streets of another city on tuesday thousands of kilometers away from london. this battle took place in santiago, chile. violent demonstrators broke away from a peaceful anti-government protests by tens of thousands of teachers, parents and other students. they're demanding the state take control of public schools from private companies and reduce the cost of college education. many say they can't afford to give their children a quality education. still ahead here on "world business today," boeing gets a flurry of aircraft orders, and jen delgado will have your business traveler's forecast. we'll be back in just a moment. ? 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