journey. al jazeera in the strait between denmark and sweden. other stories we are covering around the world, that attack by al shabab in somalia and comments and analysis, aljazeera.com. a live look at the opening bell on wall street. markets around the world getting hit hard as chinese stocks and the price of oil fall. >> republican presidential hopefuls faceoff in a debate by ted cruz and donald trump. the clock ticking down to the iowa caucuses. >> chicago on edge after newly released vote show police shooting and killing an unarmed black teenager.
this is aljazeera america live from new york city, i'm stephanie sy. markets are opening here on wall street and dow futures pointing down this morning as china falls into a bear market for the second time in seven months. the drop of about 20% over just two months, the shanghai fell 3.6% ending at its worse close in two years. china's government has been intervening but some say it's not enough to manage the economic throwdown. rob mcbride has more. >> this has been a horneddous end to the first couple of weeks of newer trading on the china and hong kong stock exchanges. the 3.5% fall in shining high today brings losses for the week to nearly 9% and to 21% since
last december. that's very much bear market territory and of course the bears are predicting that it could fall still further. last week, we saw various measures by the authorities to try to stop the selloff, this so-called 7% trigger that would suspend trading in the market. we saw measures being lifted. they clearly weren't working. if anything, they were making the situation worse. despite that, the selloff has continued this week and people are now wondering what the wider impact is going to be on the chinese economy. next week, we are expecting all important g.d.p. figures to show what the growth rate was doing in the last quarter of 2015. it's likely to show a continued slowing in the growth rates of the chinese economy. the big question for many is will the authorities allow that slowing process to be a soft landing or a hard one. on the evidence of the last couple of weeks, things are starting to feel very bumpy right now. >> bumpiness translating into a
down day right now on wall street, taking a look at the big board, the dow down more than 2%. >> falling crude prices may be good news at the gas pump but members of opec, the decline is real cause for concern. >> low prices at the pump are great for road trips, but within the oil cartel opec, there's concern the strategy that's led to cheap gas has gone too far. fuel has gone down so much, the economies of the major oil producing nations can't function properly, like oil rich nigeria in west africa, pushing for an emergency meeting of opec to discuss cutting oil production to stem the price free-fall. oil is hovering around $30 a barrel but according to the imf, the break even price is far higher. saudi arabia, more than $100 per barrel, slightly less for other key exporters, but still well
above where oil's been trading for weeks. only this week, b.p. cut 4,000 jobs. the blame for cheap on him is laid squarely at the door of the world's biggest oil producer, saudi arabia. >> the saudis are saying we are not going to creed shares. private producers are allowed toed a jobs and reduce long standing dependency on foreign sources of oil. >> this is part of a broader collapse in global nodes that's going to affect china and all the developing world. >> after the mix, the economic slowdown in china and you have a recipe for cheap oil as far as anyone can see into the future. arab nations have a history of
holding the world to ransom for oil. in 1973, opec was hardly out of the headlines. embargo on delivers to the big oil countries meant the price shot up. in the united states, it became known as the first oil short have shortage. the same thing is happening today in reverse. there's no guarantee an emergency meeting of opec will result in a higher price. for today, enjoy pump price without heed for the effect it can have on 2016. there are 17 days to go before the iowa caucuses. the gloves have come off between two top republican candidates. donald trump and ted cruz clashed. the rising tensions dominated the forum, leaving little final
for others to make an impression. >> i've spent my entire life defending the constitution before the u.s. supreme court and i'll tell you, i'm not bog to be taking legal advice from donald trump. >> thursday night, the long simmering smackdown between ted cruz and donald trump finally boiled over. the gloves came off when moderators asked cruz whether he's qualified to be president because he was born in canada, something trump raised questions about. >> i recognize that donald trump is dismayed that his poll numbers are falling in iowa, but the facts and the law are quite clear. under long standing u.s. law, the child of a u.s. citizen born abroad is a natural born citizen. >> a clearly angry trump argued the issue would hang over cruz's head if he becomes the nominee and said cruces was wrong on the polls. >> in iowa as you know ted i'm beating you.
you shouldn't misrepresent how well you're doing with the polls. you don't have to say that. i was all for you until you started doing that because that was a misrepresentation. >> the men sparred over trump's liberal new york values. >> not a lot of conservatives come out of manhattan. i'm just saying. >> trump turned the tables, arguing 9/11 was when the world saw new york's true colors. >> and we rebuilt downtown manhattan and everybody in the world watched and everybody in the world loved new york and loved new yorkers and i have to tell you that was a very insulting statement that ted made. >> trump and cruz dominated the air time. the other five candidates left trying to score points when they could get a word in. former florida governor jeb bush took aim at trump's plan to ban immigrants. >> we don't have to have refugees come to our countries, but all muslims?
seriously? >> the other big targets of the nice, president obama and the woman who hopes to succeed him, hillary clinton. >> i hate to interrupt this episode of court t.v., but the real, i think we have to get back to what this election is about. in 2008 we elected a president who didn't want to fix america. he wants to change america. he's weakening america on the global stage. we elected a president who doesn't believe in the free enterprise system. we have to reverse the dam. >> i watched story time with barack obama and it sounded like everything in the world was going amazing. >> to be honest with you, hillary clinton would be a national security disaster. >> she wouldn't just be a disaster. hillary clinton is disqualified from being commander-in-chief of the united states. >> as the debate passed the two hour mark, new jersey governor chris christie who earlier said he'd kick president obama said rear butted into an argument.
>> you had your chance, mark, you blew it. >> republicans get another chance to take on each other and the democrats two weeks from now, al jazeera, new york. the lower polling gop presidential candidates debated before the main event and came out swinging against president obama and hillary clinton. >> i've been blessed by a lot of opportunities to do a lot of things in my life and unlike another woman in this race, i actually love spending time with my husband. >> in the state of the union, he talked about how great the economy was doing. i guess for the people he hangs out with, it's probably doing great, but the president should have stood in the line at the lay away counter at walmart just before christmas. he would have heard a very different story. >> rick santorum blasted president obama on climate change sayingle policies have caused 2 million jobs to leave the country. >> 12 people feared dead after
two military helicopters crashed in hawaii. a debris field was spotted. each helicopter had six passengers. no word on what caused the crash on the victims. chicago is bracing for more protests after the release of a police video. there are accusations of lies and cover ups. >> towards the right, you see the officer try to grab cedric chapman and he gets out of a car he had allegedly stolen. he starts running. he is unarmed but he was holding something that turned out to be a box for a smart phone. within seconds, the officer starts shooting from behind. chapman is then on the ground, dying, as the officer handcuffs him. officer fry told investigators he thought chapman was holding a
dark object and possibly turning towards him. >> at no time did either of the officers communicate. they never said i think he has something in his hand, i think he has a gun. >> the shooting was ultimately ruled within police department policy and fry never faced discipline. >> at the time, the lead investigators for the city said independent police review authority was lorenzo davis. he said he found the shooting not justified and would have recommended charges against fry, but davis was overruled by his boss and later, davis was fired. we talked to davis about the video's release. >> i do feel vindicated every time a video comes out. i do feel like vindicated that there's more transparency now. >> davis' boss was himself fired after the release of the laquan mcdonald video. that case was also initially ruled a justifiable shooting, but that officer now faces a
murder charge. >> if we truly can believe ipra is independent and what they are tell us is truthful, then that's great. that help the system. as of right now, no one can trust them. >> the interim police superintendent said this week that the department is working on coming up with new guidelines for when officers can and cannot use deadly force. >> our goal is to change the way officers think when they approach a critical incident by establishing time and distance to allow for more prudent thinking and physical space for a safer environment. >> changes will come far too late for demonstrators who took to the streets after the lajuan mcdonald video and now taking credit for the city finally backing down on the release of the chapman video. >> it seems it's open season on young black men in the city of chicago. they kill them without conscious just like a jungle, like they go
safari hunting. >> kevin fry, the officer who shot chapman had previously shot two other unarmed people and has a slew of excessive force complaints against him but he remains on the beat today. the police department in chicago tried for years to block the release that have video. indonesian police have killed one suspect and arrested two more hunting for people involved in thursday's attack. seven people died in the suicide attack, including the five attackers. authorities identified four of five men and say an indonesian now in syria with isil funded the attack. this morning, the u.s. navy is opening an investigation into the apparent mistake that caused two boats to stray into iranian waters. the 10 naval officers onboard are back in the u.s. and going through a process called reintegration, a series of interviews and health tests before they return to duty. defense secretary ash carter
said some type of navigational glitch caused the error. >> this much is clear, there was a navigational error of some kind, all contributing factors to that we don't know yet. we are still talking to those folks and will find out. >> iran released the sailors in less than one day. obama administration officials say that's due to improved communication as a result of the nuclear deal. fictioning the glitch that released prisoners early, but the problem isn't completely corrected. the atlantic facing its first january hurricane in 60 years. where the storm may be headed.
we continue watching the numbers on wall street after a rough day overseas, trading began here 15 minutes ago with the dow dropping more than 2%. this morning, walmart has announced it is shutting down 154 stores in the united states and more than 100 others across the globe. the restructuring will impact 16,000 workers. >> one of the biggest players in the housing bubble and financial crisis has settled with the derryl government, goldman sachs reaching a $5 billion deal. it involves claims from state investigations. it was accused of fraudulently marketing mortgage backed securities. it includes $1.8 billion in
consumer relief in the form of mortgage forgiveness and refinancing. the justice department started the process to extradite mexican drug kingpin joaquin el chapo guzman to the u.s. the process could take a year or longer. until then, he is held in the same prison where he broke out seven months ago. meanwhile, sean penn, the actor is breaking his silence this morning about his interview with guzman. he says he wants his story to help end the war on drugs. >> i regret that the entire discussion about this article ignores its purpose, which was to try to contribute to this discussion about the policy in the war on drugs. let's go to the big picture of what we all want. we all want this drug problem to stop. >> guzman faces charges in numerous jurisdictions in the u.s. that includes murder, money laundering and drug charges.
>> the computer glitch that released thousands of inmates in washington state is now fixed. not everyone has been found. police are still looking for some of the prisoners they let out early. al jazeera reports. >> matt was 17 years old when he was violently stabbed outside a house party in 2011. his father says at first, e.r. doctors weren't sure he'd survive. >> when they got him, they got him first time here and clipped a bowel down there. they had to open him up all the way. >> while his son recovered, he kept track of curtis robinson, the man serving time for the assault. >> i was on it the whole time, from day one, just because it was bothering to me, so i figured that if somebody is going to do something that horrific, i don't care if it's one hour, one day, you get out when you're supposed to get out. >> he discovered an incorrect
release date and alerted corrections authorities. turns out robinson wasn't the only one. since 2002, 3200 prisoners had been let out of washington state prisons too early. so far, corrections has identified 107 people it believes need to return to prison. >> knowing that there was an error, knowing that people owe time on their sentence, on their conviction, it was our goal to bring them in. >> admitting the mistake it failed some families, at least two prisoners let out early are accused of killing people. jeremiah smith is back in jail after he shot a 17-year-old during an attempted robbery in spokane, just days after he was mistakenly released last may, three months too early. robert jackson is charged with vehicular homicide after crashing his car and killing his passenger, a mother of two. he had been released from jail last august, but should have
been released four months later. >> when there is a situation like this, where there is an error, and there's tragedy that comes of that, it's just overwhelming. >> the department of corrections says it fix the the computer glitch that caused thousands of prisoners to be released too early. they believe that as of this week, all prisoners currently serving time will have their sentences calculated correctly. >> the department is still tasked with finding those they let out too early, prisoners like david jennings, convict in connection with a drive by shooting and served a decade in prison before being seasonal released last summer. cameron rosenthal, a friend said jennings had already started to put his life back together, including making a living waiting tables. >> he was doing great. his guests loved him. he moved up to serving about three months after i got there, and yeah, his guests loved him, gave rave reviews, he's, your
best churcher. >> jennings voluntarily turned himself in to authorities to serve out the remainder of his sentence, about 10 weeks. corrections officials are still trying to track down seven prisoners who have not turned themselves in and remain at large. >> we are actively searching for them, so i think that will get everyone. i think that we will have confinement, time owed, paid, it may take a little bit of time. >> it's also taking time to review the sentencing errors which date back more than a decade. sabrina register, al jazeera, washington. michigan's attorney general is opening an investigation to see if any law us have been violated in flint. this as the governor asks president obama to declare a federal emergency in the county to release federal aid to cope with the water crisis. the water supply that dangerous levels of lead. wednesday, michigan announced a spike in legio legionnaires dis. ten have died from it.
there is more unusual winter weather to tell you about. a hurricane in january, the first in nearly 60 years. hurricane alex is turning in the middle of the atlantic ocean right now. the storm i also headed with wind speeds of 80 miles an hour but poses no threat to the u.s. hurricane season is supposed to run from june to november. there is a major rainstorm moving up the east coast this morning. let's bring in meteorologist nicole mitchell for more on that. >> a little more typical this time of year, especially the fact that we'll get colder air with this. one disturb answer northwards bringing light areas of snow, another through the southern tier in the southeast. while one system pulse in the northwest, another poised for this weekend, you can start to see the clouds. that one heavy rain especially in northern california sunday, watch for that. the two systems we've monitored in the eastern half of the country, it is the northern one in the front that is going to usher in colder air. the southern one continues to
develop, as it pulse off the coast, could got a nor'easter, more of a rain one than a snow one. the northeastern winds will bring it off the coastline. light snow aids with the exception. the northern u.p. of michigan could get four to eight inches enhanced by moisture from lake superior, but most places getting one, two, three inches. what's more significant is some of these temperatures over the course of the weekend, overnight lows for days like sunday night could b minus 10 or 20 in some cases,ed a the wind chill, 30 to 40 below zero through the weekend. watch that very closely. this developing rainstorm is going to pull off the coast, merge with the other area of moisture. this moves through quickly. most place are clear by saturday afternoon, but rain along the coastline today. oscar outrage, some are upset over the list of this years nominees.
the academy released its list of oscar nominees and once again is lacking in terms of diversity. many are crying foul after minorities were shut out of all the major categories. >> a year ago, host kneel patrick harris proclaimed the oscars to be a celebration of hollywood's best and whitest. the latest nominations have many complaining that nothing has changed. >> we are pleased to announce the films selected as the best picture nominees.
>> the hash tag oscar so white began on twitter after not a single person of color was nominated and not a single film without a predominantly white cast was put up for best picture. >> you have to make diversity the watch word in hollywood. your flagship event is all white. >> many thought movies like creed, beast of no nation, and concussion deserved to be honored and the lack of the nomination for n.w.a. surprised even the motion picture academy president. >> i really was disappointed. i was. i loved straight out of compton. >> how do you have 10 categories available, the only films still don't include straight out of compton. how do you do that? >> some say the personal taste of some voters may be to blame. >> i do wonder if enough of them
saw straight out of compton. i saw to a couple people who said that's not my kind of music. i said this isn't a music video. >> the academies new weighted voting system may have played a role. >> if you didn't fill straight out of compton as your number one choice, it doesn't get counted until they count all the other number one choices. that means i had could have been everybody said number two or three choice and not make the final cut. >> some hollywood insiders say there may be an upside to the renewed debate over diversity at the oscars. >> people will say you don't talk, you've got to do. talking gets to the do and we are going to do. two as stray puts that now on a a space walk at the international space station fixing a power unit and laying cables. thanks for watching. the news continues next live from doha.