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Hala Gorani Tonight
Tensions High In Russia-Ukraine Crisis; U.K. Police Investigate Downing Street Lockdown Parties; U.N. Condemns Military Coup In Burkina Faso; Investor Anxiety Over Ukraine And The Fed Driving Volatility; Demonstrators In Burkina Faso's Capital Welcome Military Takeover; Clinical Trial Begins For Omicron-Specific Vaccine; Israel Studying Effectiveness Of Fourth Pfizer Vaccine Dose; Winter Storm Closes Roads And Airport In Istanbul. Aired 2-3p ET
Aired January 25, 2022 - 14:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
LARRY MADOWO, CNN INTERNATIONAL HOST: Hello everyone, live from CNN center in Atlanta, I'm Larry Madowo in for Hala Gorani. Tonight, U.S. troops on
high alert. The west crumbling to present a united front. And back and forth accusations of escalating tensions. We will be covering the Russia-
Ukraine crisis from all angles. Then more headaches for Boris Johnson as police launched an investigation into Downing Street parties held during
And later, the U.N. condemns the military coup in Burkina Faso and demands the president's release. But will the army listen? We'll bring you the
latest. Calls for diplomacy and de-escalation in the crisis over Ukraine are growing more urgent even as both the west and Russia are strengthening
their show of military might.
A new shipment of U.S. weapons arrived in Ukraine today as the White House warns the threat of a Russian invasion remains imminent. The U.S. Charge
d'Affaires in Kiev says the arms are meant to bolster Ukraine's defenses.
(BEGIN VIDEO CLIP)
KRISTINA KVIEN, U.S. CHARGE D'AFFAIRES TO UKRAINE: Let me underscore that Russian soldiers sent to Ukraine at the behest of the Kremlin will face
fierce resistance. The losses to Russia will be heavy. If President Putin decides to make this reckless choice, we will provide additional defensive
material to the Ukrainians above and beyond what we've already sent. But, of course, our preference is diplomacy.
(END VIDEO CLIP)
MADOWO: The Ukraine military is heavily outgunned by Russia, and while NATO is sending jets and ships to eastern Europe and is putting troops on
standby, its Secretary-General made clear to CNN today that the west will not help Ukraine fight.
(BEGIN VIDEO CLIP)
JENS STOLTENBERG, SECRETARY-GENERAL, NATO: NATO will not deploy NATO combat troops to Ukraine. But we need to be sure that there is no
misunderstanding about our readiness, our commitment to protect and defend all allies, especially in the eastern part of the alliance.
(END VIDEO CLIP)
MADOWO: Russia says the troop preparations and weapons shipments to Ukraine are escalating the crisis. Even as it drums up its own military
drills near Ukraine's border. But the window for diplomacy isn't over yet. During a meeting in Berlin today, French President Emmanuel Macron
announced that he will talk with Vladimir Putin on Friday. Let's bring in now our team of reporters right now, Nic Robertson is in Moscow for us,
Melissa Bell is in Paris and Oren Liebermann is at the Pentagon.
Nic, let's start with you, listening to some diplomats especially in Washington and in London makes it sound like Russia could invade Ukraine
any minute now. This is imminent. Obviously, the Russians have repeatedly denied that. But what's the latest from Moscow in response to the flurry of
statements, diplomatic activity, and written submissions that we're expecting from both the U.S. and NATO. Will Putin blink first?
NIC ROBERTSON, CNN INTERNATIONAL DIPLOMATIC EDITOR: That's not his intention. His intention is to keep the pressure on NATO to get what he
wants. And what he wants is NATO to say that Ukraine cannot join. And to roll back NATO to pre-1997 levels. He is waiting for those written
statements, written responses from the United States and NATO right now. That's what a spokesman said to journalists today, that those statements
will be coming.
That they will take a look at them essentially as sort of the diplomacy goes on pause at that moment as they deliberate over this responses,
although they know what the core responses are going to be, which is no to their demands, and then, you know, things move forward from there. The
indications last week were that it would be between Secretary of State Antony Blinken and Sergey Lavrov; the Russian foreign minister.
But you know, what Russia is saying about the situation is very telling. I mean, they are saying that it's the United States and NATO that are ramping
up the tensions here by potentially deploying more troops, more armor to the borders, the eastern borders of NATO. They're saying that, that
constitutes a possible precursor to some kind of provocation that will bring about a conflict. Russia's pointing to the Ukrainians as ramping up
tensions by deploying and preparing forces and military hardware around the Donbas pro-separatist enclave in the east of Ukraine.
So from Russia's perspective, it is -- they're going to hold the line. They know what they want. They recognize that they're achieving some of their
goals with their pressure, because they see these divided conversations that are happening amongst the NATO allies.
Particularly, you know, if you listen to Boris Johnson in parliament today or Emmanuel Macron or Olaf Scholz, the German Chancellor speaking, they all
have a slightly different take on the situation. They speak about unity, but there's divisions and the Kremlin recognizes that and looks for its
opportunities to exploit that.
MADOWO: Nic, I want to leave it there just for the moment because we want to take you live to Washington D.C. right now where U.S. President Joe
Biden has been fielding some questions from reporters. We expect him to talk about this situation.
UNIDENTIFIED FEMALE: You would?
JOE BIDEN, PRESIDENT OF THE UNITED STATES: I would see that.
UNIDENTIFIED FEMALE: What would trigger the deployment of the 8,500 troops that you put on high alert, and what's your message to those forces that
are on high alert?
BIDEN: The forces on high alert are their part about NATO operations. Not a sole U.S. operation, and I've made it clear to President Putin that we
would be -- we have a sacred obligation, article 5 obligation to our NATO allies. And that if in fact, he continues the build-up and or was to move,
we would be reinforcing those troops.
And I spoke with every one of our NATO allies in person -- not in person, virtually, and we're all on the same page. We've got to make it clear that
there's no reason for anyone, any member of NATO to worry whether or not we would -- we, NATO would come to their defense.
UNIDENTIFIED MALE: And Mr. President, what about --
May I ask you about when you'll make a decision about deploying those troops. What will --
BIDEN: Well, it depends --
UNIDENTIFIED MALE: Lead to that?
BIDEN: What would lead to that is what's going to happen, what Putin does or doesn't do. And I may be moving some of those troops in the near term
just because it takes time and again, it's not provocative. It's just exactly what I said, is that as long as we have to reassure -- if you
notice, you don't see a lot of concern in terms of their security, and of our NATO allies in western Europe. But in eastern Europe, there's reason
They're along the Russian border. They're on the Belarus border. So, they went from four more now(ph), there's reason to be concerned about what
would happen and what spillover effects could occur. We have no intention of putting American forces and NATO forces in Ukraine. But we are -- as I
said, there are going to be serious economic consequences if he moves.
UNIDENTIFIED MALE: Can you tell me whether you think, sir, that the risk of an invasion is increasing or decreasing or steady just as it has been
these recent days?
BIDEN: You know, I'll be completely honest with you. It's a little bit like bringing tea leaves, ordinarily, if it were a different leader, the
fact that he continues to build forces along Ukraine's border from Belarus all the way around. And you'd say well, that means that he is looking like
he's going to do something. But then you look at what his past behavior is, and what everyone is saying in his team as well as everyone else is to what
is likely to happen?
It all comes down to his decision -- look, let me conclude by saying, there will be enormous consequences if he were to go in and invade, as he could,
the entire country, or a lot less than that as well for Russia, not only in terms of economic consequences and political consequences, but it would be
enormous consequences worldwide. This will be the largest -- if he were to move with all those forces, it would be the largest invasion since World
War II. It would change the world.
UNIDENTIFIED FEMALE: Thank you guys. Thank you, guys. Let's go. Thank you guys, let's go, thank you guys -- you guys -- come on, let's go. Thank you.
BIDEN: There is not going to be any American forces moving in any way.
MADOWO: U.S. President Joe Biden there taking questions from reporters a short while ago. He was much more keen to answer questions than his team
was. And he made some news day, he said in the near-term, he might be moving some of those 8,500 troops on standby just because it takes time to
move them there. But asked about what it would take for there to be an actual deployment of these troops, he said it depends on what Vladimir
Putin, the Russian president does.
But what he did say is that if he does invade Ukraine, there will be enormous consequences. I want to bring in Oren Liebermann who is with me,
Melissa Bell and Nic Robertson is still with me as well. But Oren, I want to go to you first. We're hearing some new information from the president
there about the potential for some of these troops already moving into the region, even though he said there will be no American troops in Ukraine,
but at least, this has moved some distance.
OREN LIEBERMANN, CNN PENTAGON CORRESPONDENT: It has. We're a lot closer now to the potential of U.S. troops deployed to eastern Europe. But
crucially, we're not there yet.
President Joe Biden says those troops may move in the near-term, and that's after the Pentagon announced yesterday that as many as 8,500 U.S. troops
based in the U.S. now will be put on, prepare to deploy orders. Essentially, a higher state of alertness. A heads up that, hey, look, you
may be deploying to Europe soon. Now, the Pentagon wouldn't say exactly where, but they did make it quite clear this would be to shore up NATO's
eastern flank in eastern Europe.
They're facing Russia, Russian potential Russian aggression and the build- up of Russian forces. But -- and we heard this from Biden and we heard this from NATO Secretary-General Jens Stoltenberg not in Ukraine itself. That
point they're in agreement on. This is to shore up the flank of NATO. Again, the troops haven't deployed yet, but the U.S. Is keeping its options
open. The Pentagon saying they could deploy as part of a NATO response force, a multi-national 40,000 strong force that would go to show not only
a message of support to NATO's eastern European allies, but also a message of deterrence to Russian President Vladimir Putin as he tries to figure out
what he is going to do.
And that would be one of the reasons those troops could deploy in the near- term here. But the Pentagon made it clear that also a deteriorating security situation, that might compel the U.S. to act unilaterally.
Essentially they're keeping their options open. The Pentagon also saying today it might be more than 8,500 troops. In terms of what they would be
doing, the Pentagon said they would be doing a number of different missions, or at least could be or would be doing if they deployed.
From medical to aviation to logistics to Intel surveillance and reconnaissance. So a number of different options. A number of different
missions as the U.S. and NATO figure out what the next steps are.
MADOWO: And the president said today that this invasion, if it were to happen would be the biggest invasion since World War II. And Melissa, what
we heard from President Biden kind of tracks to what we heard earlier from the French President Emmanuel Macron. He warned in Berlin today that any
Russian aggression towards Ukraine would have serious consequences, and the cost will be very high. So what more did we learn after his meeting with
the German chancellor?
MELISSA BELL, CNN CORRESPONDENT: Well, you're quite right, Larry. There was that focus, Emmanuel Macron, Olaf Scholz falling in step with NATO and
showing that unity, and what they said. But there was very much more of a focus on looking towards discussion on seeking de-escalation. And just
interesting to hear the American president there refer to that difference for European countries. It's nearest Russia furthest east are of course
feeling the pressure more and more.
And it is towards the eastern European NATO allies for them, also that he wants to show support. It is an important distinction to make. There's this
division within Europe and therefore this division within NATO that has to do with the tone that should be adopted towards Russia. So, a lot more
focus in Berlin today from the German chancellor and the French president on what's going to happen over the course of the next few days here in
The Normandy format talks that will take place here tomorrow that will bring together Russia, Ukraine, Germany and France. And that Emmanuel
Macron and the Kremlin express some hope about -- in the hope that they could lead to some sort of de-escalation to some sort of advancement on
falling out, what has become a very frosty relationship. Later this week, there will also be a phone call between Emmanuel Macron and the Russian
Macron has for many years now argued for a much closer relationship with Russia, a different tone to be adopted to it. And yet, given the current
circumstances, he had also to speak about the preparations being made should Russia choose to invade. Have a listen.
(BEGIN VIDEO CLIP)
EMMANUEL MACRON, PRESIDENT, FRANCE (through translator): We are preparing in parallel, a common reaction and response in case of aggression. And as
it has been said, if there is an aggression, there will be a response, and the cost will be very high.
(END VIDEO CLIP)
BELL: But the hope for Berlin and Paris that some discussion can still be held, that there is still hope for de-escalation and for talks to be able
to bring everyone back from the brink of what would be a terrible war, Larry.
MADOWO: A terrible war is what the warning has been repeatedly from NATO, from European allies and now from the U.S. Of course, we have to leave it
there, many thanks, Melissa Bell, Oren Liebermann and Nic Robertson. CNN's Clarissa Ward had an exclusive interview with the Ukrainian foreign
minister today. He dismissed concerns that having NATO troops on standby could anger Vladimir Putin and escalate the crisis.
Saying, if there's anything we learned from 2014, it's that doing nothing doesn't work. Here's more of their conversation.
(BEGIN VIDEO CLIP)
DMYTRO KULEBA, MINISTER OF FOREIGN AFFAIRS, UKRAINE: If anyone makes a concession on Ukraine, behind Ukraine's back, first, we will not accept
that. We will -- we will not be in a position of a country that speaks out the form, hears the instruction of the big power and follows it. No. We
paid a lot, including 15,000 lives of our citizens to secure the right to decide our own future.
Our own destiny. And we will not allow anyone to impose any concessions on us.
CLARISSA WARD, CNN SENIOR INTERNATIONAL CORRESPONDENT: So when last week you heard President Biden in that now infamous press conference say that a
minor incursion into Ukraine might not bring about the kind of swift united severe response. What was the reaction of officials here, and did you ever
receive an apology or a phone call from the White House or the State Department to try to explain the comments?
KULEBA: We heard what President Biden said. The White House and presumably President Biden heard our response to that, and we turned that page over.
We heard from both U.S. officials speaking openly to the media, but also speaking to me and to other Ukrainian officials directly on the phone that
the United States will remain absolutely committed to slashing Russia if any type of incursion, invasion, interference, takes place.
(END VIDEO CLIP)
MADOWO: He's making clear whether it's an invasion or incursion or interference that the U.S. has their back. Let's get the very latest now
from Kiev. Sam Kiley joining us live. Sam, the Ukrainians appear to be trying to assert themselves by declaring that they will not allow anyone to
impose any concessions on them. But the extra military hardware and strong statements, they really be reassuring that as I was saying, NATO has their
back. What's the government line there today?
SAM KILEY, CNN SENIOR INTERNATIONAL CORRESPONDENT: Well, the government line is that NATO does have their back, but indeed, the foreign minister
was telling Clarissa Ward prior to that meeting between the French president and the German chancellor, where the tone was different, although
the message was the same. And that is that they are keeping a hard line over the territorial integrity of Ukraine.
That the Ukrainians and only the Ukrainians in conversation with NATO members can decide on the future of Ukraine's relationship with NATO. That
the Russians don't have a veto. But they are anxious about these little areas for exploitation for Vladimir Putin to exploit when there are
differences of opinion, at least over tone even between how this should be approached. You've got essentially NATO's line is extremely hard-lined.
You've got the Americans saying that they're putting 8,500 more troops on standby for deployment alongside other NATO forces in Europe, and then
you've got this slightly more nuanced, if you like, but more -- or slightly warmer, I think would be an exaggeration, but they're reaching out in some
degree for -- toward a more diplomacy with the Russians. And that's just what the Russians will exploit, certainly from the perspective of the
So, that's why they're saying nobody is going to make deals behind our backs, nobody is going to reach these conclusions. But they're under no
illusions equally, that in the end, they would not be able to resist a Russian invasion without the deployment of NATO forces here in Ukraine, and
that has been absolutely ruled out in advance by NATO and NATO's partners, Larry.
MADOWO: Many thanks, Sam Kiley in Kiev for us tonight. Still to come, British police say they are now investigating lockdown events at 10 Downing
Street. Will party-gate be the scandal to bring down Prime Minister Boris Johnson?
MADOWO: British Prime Minister Boris Johnson facing growing anger over reports of yet another lockdown gathering. Adding to that, the Metropolitan
police say they're now investigating a number of events in Downing Street and White Hall during the pandemic. It's an unusual step from the police
force who have previously said that they just had no capacity for retrospective investigations of alleged rule breaking. Take a listen to
what Mr. Johnson said today in parliament.
(BEGIN VIDEO CLIP)
BORIS JOHNSON, PRIME MINISTER, UNITED KINGDOM: A few weeks ago, I commissioned an independent inquiry through a series of events in Downing
Street and cabinet office as well as some other White Hall departments that may have constituted potential breaches of the COVID regulations. That
process was quite properly involved, sharing information continuously with the Metropolitan police.
So I welcome the Mets' decision to conduct its own investigation because I believe this will help to give the public the clarity it needs and help to
draw a line under matters.
(END VIDEO CLIP)
MADOWO: With me now is Bianca Nobilo in London. It seems Bianca, that every few days we hear about another party, bring your own booze and make
the most of the lovely weather, a going away party, now it's a birthday party. So what does this all mean for Prime Minister Boris Johnson's job,
Will he keep it?
BIANCA NOBILO, CNN CORRESPONDENT: The ongoing trickle of parties, I think is having perhaps less of an impact on the British public whose outrage is
probably maxed out at this point. They're no longer surprise when they hear of new parties. Also, these birthday party events for reasons that might
take a long time to explain are probably slightly less egregious than other parties have been reported from Downing Street.
Like, for example, the one that happened the evening before the funeral of Prince Philip. As to where this leaves the prime minister, well, one of the
factors which is really aggravating his own MPs is this constant stream of leaks. The fact that the story is not going away. It's been happening now
for about two months, and not only that, but the fact that some of them have to go out and defend the prime minister only for more allegations to
then turn up the next day.
And that makes them feel like they're on the back foot. That makes them feel stupid. No MP likes to feel that way. So it's definitely damaging the
prime minister a little bit. Now, earlier today, when we heard the news that the Met, the London police, is actually going to be investigating some
of the gatherings that took place in Downing Street. Initially, the consensus was that might offer the prime minister ironically, a reprieve.
Because the thinking went, the Sue Gray inquiry which is looking into whether or not the prime minister and his team broke COVID restrictions,
may not have been published before the Met had been done with their investigation. However, we now understand that is not the case. So we
can't expect that report to come out in the next few days. Now, the MPs I've been speaking to for a number of weeks now have all been citing that
moment, is the time when the last flurry of letters may go in.
And -- sorry, I'm having problem with my earpiece that I -- but I think the most important aspect to bear in mind here is the prime minister is already
in a situation of political difficulty. He kept citing let's wait for the Sue Gray report to see what that says --
MADOWO: Right --
NOBILO: As a reason for not answering further questions about what happened in Downing Street. Now, we know because the Met police are
investigating, that, that report will have teeth. There are some serious pieces of information that she must have turned up. And that obviously
will be causing the prime minister much alarm.
MADOWO: There are people who said the prime minister would be not -- would be probably gone by the end of the week, but this is all changing really
fast. We're going to have to leave it there, Bianca Nobilo because I think she's -- we're having trouble. She can't hear me. But really appreciate it,
Bianca Nobilo in London for us. Thank you.
Joining me mow for more analysis is political journalist Freddy Gray, he's the deputy editor of U.K. weekly magazine "The Spectator". Its latest
edition is asking the question on everyone's minds. Is it over for Boris Johnson? Freddie, thank you for being here. It was initially thought that
the London Metropolitan Police investigation into lockdown parties on Downing Street could delay the cabinet office investigation by Sue Gray.
But there are now reports in the U.K. media that her report could come as early as tonight, maybe it could be public by tomorrow morning. And
obviously, we should take a lot of this like a pinch of salt, nobody knows when this report will come out except Sue Gray. But is this good or bad for
FREDDY GRAY, DEPUTY EDITOR, THE SPECTATOR: It's a very mixed bag today. I think as Bianca suggested just now, it had been looking promising, and this
is the sort of a late night in the news day against the Johnson administration. And it makes the picture very complicated again. Any sort
of thought that they could say -- we're kicking the can or feel that they could kick the can down the road, and focus on big matters of state like
the brewing conflict over Ukraine or the brewing economic crisis.
That's now being slightly scuppered by the idea that Sue Gray's report may come out, and that it will now be mixed with the Metropolitan Police
investigation. And so you'll have potential criminality on one hand, and the steady drip of embarrassing allegations. Do you think that the Johnson
administration feels more positive about at the moment is that the public are sharing signs of total exhaustion with it. So, there's less interest,
there's less immediate rage.
There's definitely public anger and there's public anger with the government on different fronts. But there's a slight sense that this has
become Westminster story, a sort of palace intrigue story that excites Westminster, excites journalists because it's gossip, and it feels
exciting, but actually, the public are looking at pictures of the prime minister being given cake on his birthday and they are struggling to feel
that much anger about it.
MADOWO: Well, there's been a lot of press about this, from "ITV News", from the "Daily Mirror", from "The Telegraph". Let's talk about -- you talk
about people I guess exhausted with it, but there's some polling. And one recent poll found that only 19 percent of conservative voters think Boris
Johnson is honest, 78 percent of them think of him as dishonest which is extraordinary because that's an increase of 17 points just in this past
And that's before we learned about this birthday party at Downing Street, that he says was not a party. So, should he be worried for his job?
GRAY: I think certainly public anger has mounted. I think that there was a slight tipping point last week. I mean, I thought last week -- I thought
throughout, Boris Johnson probably survived. But last week, I thought actually he wouldn't because within his own party, within his own voter
base, there seemed to be real rage against him. And this was a manifestation of various things. Party-gate was the sort of the vehicle
through which people vented their rage, but as a lot of Tory voters feel betrayed by Boris Johnson by the way, he hasn't quite lived up to his
And there's a lot of anger about lockdowns, lingering anger about lockdowns, particularly among conservative voters.
MADOWO: Right --
GRAY: So party-gate became a way in which Tory voters expressed their anger. I'm not sure it was the root cause of it.
MADOWO: There have been a lot of rumors for sometime about members of the Conservative Party sending letters of no confidence to the 1922 Committee,
and obviously, we don't have a running tally because nobody knows how many there are. But is the leadership challenge imminent, do you think?
GRAY: I think it was closer last week than this week as far as I understand it. But it's important to remember that a lot of Tories, lots of
conservative MPs have never really liked Boris Johnson. They never really warmed to him, even if they're on his side on a lot of things. He's popular
among the public which Tories tend not to be. And so they've all been a bit suspicious and resentful with him on that front.
So, I find it quite funny watching the dance over the -- over the letters, because it really shows a lot of sort of calculating among quite weak-kneed
politicians as to whether they're actually willing to try and stab their leader in the back or not, And they're trying to judge, what the public
opinion is, they're not too sure. They've been back and forth frantically, deciding whether or not to kill the chief.
MADOWO: And these letters can be submitted with drawing suits, almost kind of a -- like a see-saw. Really, quickly, Freddy, do you think this is
distracting from more serious issues like you mentioned, like the Ukraine- Russia standoff, which is a real problem..
GRAY: Yes, it certainly is.. Although, I mean, it's a -- for Boris Johnson, he now wants the Ukraine issue to be a distraction from this. But
there's no doubt that the bigger concern -- I mean, I don't think British voters are that concerned about Ukraine. Obviously war is a worry. But the
bigger issue that British voters are really focused on is, you know, the economy is stupid. It's the cost of living which is getting very out of
It's energy prices going sky high. And that is causing the real anger towards the government. And Boris Johnson needs to get that under control
MADOWO: All right, Freddy Gray, we really appreciate your time, sir, thank you.
GRAY: My pleasure.
MADOWO: Still to come tonight, our wild ride continues for the markets. Investors around the world have a lot on their plate right now. We'll
discuss why they're worried.
Plus, Burkina Faso is one of several West African nations to face a coup in the past few years. What's causing the unrest? Ahead.
MADOWO: The crisis along Ukraine's border with Russia and the Fed's upcoming policy meeting have investors on edge right now. World stocks are
heading toward their biggest monthly drop since March of 2020.
European stocks closed higher a few hours ago, making up some of Monday's losses but Asia Pacific markets tumbled on Tuesday because of a dramatic
session on Wall Street the day before.
U.S. stocks are on another roller coaster ride today. Right now, the Dow has regained some ground and is slightly positive while the S&P and Nasdaq
are trading lower. The Nasdaq down 1.2 percent, the S&P 500 down over half a percentage point.
Matt Egan is in New York and joins me.
Monday was a crazy roller coaster for the markets. The CNN Business Fear and Greed Index has fallen into fear mode.
No turnaround today?
MATT EGAN, CNN BUSINESS SENIOR WRITER: In just the last few minutes, we have begun to really see another remarkable recovery on Wall Street, the
Dow turning positive for the first time all day. It was down 800 points earlier.
And the Nasdaq is still down on the day, down about 1.2 percent. Earlier it was down more than 3 percent. And all this comes after that wild session
yesterday. It was the first time ever that the Dow was down 1,000 points and then ended the day positive.
Points are not the best metric; look at percentages. And it was pretty amazing there, too. The Nasdaq was down by almost 5 percent.
And it closed up. It was the first time we've seen that kind of a reversal since 2008.
So I think the fact that we're seeing all this back and forth action in the stock market underscores the vast majority of uncertainty facing investors
right now, uncertainty about Russia-Ukraine tensions and inflation and uncertainty about the Federal Reserve's plans to fight inflation.
And that's why, in those kinds of circumstances, we see investors sell first and ask questions later. But at a certain point, stocks drop low
enough that they start to look attractive again.
Imagine if you liked a company that was trading at $100 a share. Well, right now, it might be trading at $80 a share or $75. At some point it's
going to start to look good again. And that's all part of the bottoming process in the stock market. But Larry, obviously, for everyday investors,
it's not that much fun. And it can create some anxiety.
MADOWO: Matt, I'm going to put you on the spot here. I know you make completely accurate predictions. You've never gotten anything wrong.
When do you expect this wave to pass?
EGAN: I think my wife would disagree with getting things wrong but I don't see how markets go back to the calm and quiet steady gains every day, every
week, in this current atmosphere.
Clearly, these tensions between Russia and Ukraine, that's a big deal. And we don't know when that's going to get resolved. We don't know how
different countries are going to react to what Vladimir Putin does. There's a lot of uncertainty.
You have the inflation situation. You know, if consumer prices keep going up in the United States -- and this is a global phenomenon -- that's going
to continue to be a major headwind for financial markets.
And what happens with the Federal Reserve is a big deal. The Fed meets tomorrow and we're going to be listening closely to whether or not they
give us any more clues about raising interest rates.
How many times are they going to raise interest rates?
How worried are they about inflation?
How confident are they about inflation getting down?
With this many question marks, it's hard to see how market volatility goes back down anytime soon.
MADOWO: A lot of question marks and that means we still can expect more volatility for some time to come. Matt Egan in New York, thank you.
EGAN: Thank you.
MADOWO: The U.N. is condemning the military coup in Burkina Faso and demanding the release of the president. One coup leader telling CNN the
president is in a safe place but it's unclear where that is.
Monday, the army announced it seized power. This is the fifth successful coup in Africa since 2020 and the third in West Africa. Stephanie Busari
joins me from Lagos in Nigeria.
We're expecting an extraordinary summit, the regional body, the economic body of West African states. That's in the coming days. It has also
condemned the coup.
But what more do we know about the soldiers in charge now and the whereabouts of the president there?
STEPHANIE BUSARI, CNN.COM SUPERVISING EDITOR, AFRICA: I'll start with the whereabouts of the president. It's a short answer. We simply don't know
where he is, beyond what the soldiers have told us, that he is safe. But he remains detained. And he posted some tweets yesterday, on Monday. But
beyond that, nothing.
And the coup is said to be led by an army colonel by the name of Paul-Henri Damiba. And he signed a statement that was read out on air on Monday, when
the army announced they were taking over.
And they also are part of a new group, known as the Patriotic Movement for Safeguard and Restoration. But we've been here before, Larry. A strongman
takes over from a democratically elected ruler and ends up perhaps being even more despotic.
MADOWO: When I saw the men in military fatigues on state TV in Burkina Faso, like a lot of Africans, I despaired. You could hear the collective
groan, not again. Because Burkina Faso is only the last coup in the last year.
That includes Mali last August; Chad four months earlier, again in September. And there are people who would include Sudan on the list.
So is democracy under threat on the continent again?
BUSARI: Well, it could be argued that democracy has always been under threat on the continent. Look around you. The continent is full of aging
leaders, who have extended their term limits, effectively staging constitutional coups on their countries.
What we're seeing now is a resurgence of those military-led interventions, coups that are sometimes bloody and violent.
And this region, as you know, is known as Africa's coup belt in West Africa. But you know, some people are saying that these coups have been
complicated now, the situation complicated by jihadist insurgency. This is a new element that wasn't present about two decades ago.
And military coups are not the answer, because this army in Burkina Faso, saying they're taking over because it's time for the military to rule. But
it creates a power vacuum and causes more instability, Larry.
MADOWO: Our Stephanie Busari in Lagos for us. A lot for the leaders of the African Union around the country to think about and to try and get
democracy back on track. Thank you.
The president of the Confederation of African Football vows stadium crushes like Monday's deadly disaster will never happen again. At least eight
people died Monday and 38 were injured after fans tried to enter the stadium during an African Cup of Nations match in Cameroon.
The Cup president says a report into the crush will focus on who closed the south gates of the facility, saying if the gate had been opened, no one
would have died.
Still to come tonight, we've heard about how the Omicron variant evades current COVID vaccines. But now one vaccine manufacturer has begun testing
a shot that's specifically targeting Omicron. That story when we come back.
MADOWO: China confirmed 15 new COVID cases on Tuesday among people connected to the upcoming Winter Olympic games. Most of the cases involved
foreigners arriving I China but three were athletes or officials already inside the Olympic bubble.
China is desperately trying to prevent a COVID outbreak inside the athlete bubble as it could have a major impact on the games themselves.
Drug companies Pfizer and BioNTech say they have begun clinical trials of a vaccine that specifically is targeting the Omicron variant. They are
looking how it will work as a booster and on its own in people who have not had any vaccine.
The Omicron variant has been able to infect even previously vaccinated people because it is so different than other variants of COVID-19. Joining
us now is Dr. Eric Topol, a cardiologist and professor molecular medicine at Scripps Research.
Doctor, thank you for talking to us. Let's talk about the news about Pfizer and BioNTech beginning clinical trials for their Omicron specific vaccine
candidate. The Omicron variant has generally appeared to be milder and leads to fewer hospitalizations and fewer deaths.
Why do we need this?
DR. ERIC TOPOL, SCRIPPS RESEARCH: Well, good to be with you, Larry. We, I think, are discounting the severity of Omicron substantially. The toll it's
taking on deaths and hospitalizations is important throughout the world. And we'll see a lot more of that.
With a booster, we are seeing very pronounced protection from hospitalization, 90 percent in three different independent reports. So the
need for this Omicron vaccine isn't because this is a mild version of COVID-19 but, rather, can we get further suppression of the infections and
Because even with the booster, it's only about 50 percent; whereas, previously our suppression of infections and transmission, was 95 percent,
90 percent in Delta. So we can do better.
The other question is, should we be putting a lot of effort into an Omicron specific vaccine rather than a pancoronavirus vaccine?
MADOWO: That's the question I was going to ask next.
What happens when there's another variant?
Because this virus mutates and there could be another variant.
TOPOL: Exactly. And that's why I prefer a pancoronavirus approach. By the time March or April comes along with this Omicron vaccine, we may already
potentially go onto another new variant.
MADOWO: Dr. Fauci said on CNN today that, within the next week or two, the peak of infections in the U.S. may come down. But he's not willing to go as
far as to commit to when the danger will be gone. And we have learned to live with COVID.
So in your opinion, when will we get to that endemic phase we're been hearing about and everybody is waiting to get to?
TOPOL: Well, I'd rather call it containment. Endemic has the word "end" in it and this is not an end by any means. But the continuing that we'll
probably see starting in February, we're already in descent in the U.S. now; beginning hospitalizations have dropped down from 160,000 to 150,000.
The cases are coming down.
So we'll -- in the weeks ahead, we'll start to see trends toward containment.
But the real question is, what happens after that?
Hopefully, we'll be in a more quiet state for some time, months. But we still face, because we don't have the world containment, global vaccine
equity, we still face a recurrence of a significant variant in the months ahead.
MADOWO: That leads into my next question. I spoke to the World Health Organization's regional director for Europe yesterday. And he thinks Europe
is still a little further from endemicity because infections might only peak in March.
In the connected world we live in, people travel all around the world.
So any gains made in the U.S., could that be wiped out because of travel connections from Asia, Europe or Africa?
TOPOL: Right. Well, I think this is the issue. We have to have the vast majority of our species, the planet, vaccinated or have prior COVID or
both. And we're quite a long ways from that.
The low and middle income countries have relatively scant vaccinations. And we also, because of Omicron, we have to be relying on boosters. So we have
this mixed priority of getting more people vaccinated and getting more of the protected people for -- further protected.
We can't really stop the travel. And especially travel is going to be much more welcome in the months ahead, because we're going to have a lull. And
that's going to be good.
MADOWO: Doctor, Israel's COVID advisory panel is officially recommending a COVID fourth for those 18 years old. (INAUDIBLE) approval by health
authorities there but Israel has been already giving out fourth booster shots for people over the age of 60, people in the high risk group.
Where do you stand on fourth shots becoming necessary for everyone?
TOPOL: Well, that's a really good question. We don't know. Remember, Israel has the highest Omicron caseload in the world. Every day, they're
shattering new records. So the potential value of the fourth dose has to be put in context, where they have more circulating virus there than any other
place. So we don't know.
We haven't seen the data yet. It's possible that people of advanced age will benefit from the fourth shot. But you know, the protection with three
shots, even more than three months, against Omicron for hospitalizations and deaths is quite good.
So we have to see where this is headed. I hope we're not going to be needing a fourth shot widely for adults.
MADOWO: And as you say, which is a line shared by the World Health Organization.
There's too many people in parts of the world that have not had their first shot. And it's not time to be giving out fourth shots to people who already
have some level of protection. Thank you, doctor.
TOPOL: Thank you.
MADOWO: We'll be right back after a short break.
MADOWO: The United Arab Emirates says it's trying to engage with Iran diplomatically but reserves the right to defend itself against attacks by
Iranian-backed Houthi militants in Yemen.
Twice in the past week, Houthi rebels have attacked the UAE with missiles and drones. The UAE's representative to the United Nations talked to our
Becky Anderson about how the country is responding.
(BEGIN VIDEO CLIP)
LANA NUSSEIBEH, UAE AMBASSADOR AND PERMANENT REPRESENTATIVE TO THE U.N.: We will continue on the track of de-escalation and diplomacy but, at the
same time, at the same time, Becky, we reserve the right to fully defend ourselves, defensively and offensively, in the region.
Because that is the commitment we make as a government, to keep our citizens, our 8 million or so residents from the different 192 member
states of the U.N., safe.
And that is our commitment to the model that we provide for the region. It's a model that is safe, it is one that is secure and it is a model that
is grounded in universal values that are values of the United Nations charter.
(END VIDEO CLIP)
MADOWO: Istanbul and Athens are ancient cities that have seen many remarkable events over their history. But they have rarely seen anything
like the snow that's fallen the past few days. The winter storm has been beautiful but also very disruptive. Arwa Damon has the story.
ARWA DAMON, CNN SENIOR INTERNATIONAL CORRESPONDENT (voice-over): Istanbul's famous landmarks were blanketed in snow as a winter storm hit
parts of Turkey. It's a pretty sight to behold for the city's 16 million people but a nightmare for travelers.
The heavy snow clogged roads, leaving some 4,600 motorists stranded across Turkey, while buses and ferries were also delayed. Private vehicles were
banned from Istanbul streets as cleanup began.
Snowfall began late last week but has significantly increased in recent days. At the airport, flights were suspended for a second day Tuesday.
Turkish airlines cancelled all flights from the airport, which temporarily closed operations. And workers plowed the snow-covered tarmac, while,
inside, passengers tried to make themselves comfortable wherever they could.
Some were so upset they staged a protest, chanting, "We need a hotel."
(voice-over): The angry travelers appeared to have calmed down after airport staff gave passengers food and sleeping pods.
Airport workers tried to assess the damage after the heavy snow caused the roof of a cargo warehouse to collapse. In Greece, the winter storm dumped 8
centimeters of snow on Athens, a rare occurrence for the capital, knocking out power to much of the city as the blizzard conditions caused chaos on
Rescue crews, including the army, helped dig out drivers stuck in their cars overnight. Many were given food and water as the temperatures fell.
UNIDENTIFIED MALE (through translator): We were all trying to move our cars forward inch by inch. But we couldn't. Then I got stuck here last
night. At least I think. I've lost track of time. We managed to go a further 50 meters and that's it. I've been right here since last night.
DAMON (voice-over): Some did try to make the most of the situation, like this woman, who used skis to get around.
Monday's storm also triggered a rare snowdado or snowy funnel cloud across Skopelos Island after a water spout moved onshore.
DAMON: Things have been messy across Greece and Turkey over the last few days. The region is simply just not used to this level of snow.
When it comes to Istanbul, right now most of the main roads are open. But it's tricky, especially given how hilly it is to get all the side streets
safely opened up to traffic as well.
I mean, I'm basically effectively showed in. And to just give you an idea of how rare this is, Istanbul has not seen this level of snowfall since
about 1986 -- Arwa Damon, CNN, Istanbul.
MADOWO: That's 36 years?
That's incredible. Many thanks, Arwa.
If your vision of the future involves flying cars, wow, we've just entered the future.
(BEGIN VIDEO CLIP)
MADOWO (voice-over): This is the air car, which can transform seamlessly from driving down the road to taking off. Slovakian transport authorities
just awarded it a certification of airworthiness.
The vehicle spent 70 hours in flight testing with more than 200 takeoffs and landings. According to the developers, they hope it will take us into
the next dimension and give us more freedom to travel than ever.
(END VIDEO CLIP)
MADOWO: Oh, wow.
OK. I have a lot of questions. First of all, their futuristic look. I want to try it. I don't know about you.
But what if there's traffic up there and what does that mean?
OK. I'm intrigued. Honestly, I'm intrigued.
Thank you for watching tonight. And everything, including the flying cars, I'm Larry Madowo in Atlanta. Stay with CNN, because "QUEST MEANS BUSINESS"
is up next.