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Zelenskyy to Meet with Trump Today at White House; Israeli & U.S. Officials Say Required Aid Getting into Gaza; Trump Critic John Bolton at Federal Court after Indictment; Fear Grows on Wall Street about Bank Loans; Maccabi Tel Aviv Fans Barred from Villa Park Over Safety Concerns. Aired 9- 10a ET
Aired October 17, 2025 - 09:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[09:00:00]
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CHRISTINA MACFARLANE, CNN HOST, CONNECT THE WORLD: These are live pictures of the White House. President Trump set to welcome Ukrainian President
Zelenskyy for talks in a few hours. It is 09:00 a.m. in Washington and 02:00 p.m. in London. I'm Christina Macfarlane. This is "Connect the
World".
Also coming up, Former Trump National Security Advisor John Bolton surrenders to authorities. Here is just the latest of Trump's adversaries
being targeted for political reasons. And tensions escalating between Venezuela and the U.S. after an American strike destroys another vessel in
the Caribbean, this time apparently, leaving survivors.
But we begin at the White House, where U.S. President Donald Trump will host a high stakes meeting with Ukrainian President Volodymyr Zelenskyy
today. It comes after Mr. Trump spent over two hours on the phone with Vladimir Putin yesterday, which resulted in an agreement to meet face-to-
face in Hungary in the coming weeks.
One of the key points of discussion from Mr. Zelenskyy and Mr. Putin, will the U.S. supply Tomahawk Missiles to Ukraine? The Russian President made
clear that would cause major damage to his relationship with the United States. Mr. Zelenskyy, for his part, will be pushing for access to the
weapons which could give Kyiv the ability to strike deep into Russian territory. Some variations of these cruise missiles offer a range of up to
2500 kilometers.
Well, CNN Chief International Security Correspondent, Nick Paton Walsh is joining us in London, and Alayna Treene is out the White House. So, Alayna,
let's begin here. We have seen this playbook before, haven't we? Donald Trump threatening to escalate against Russia, then holding a phone call
with Putin and then changing his mind. So where does all of this leave this meeting between Zelenskyy and Trump scheduled in a couple of hours' time?
ALAYNA TREENE, CNN WHITE HOUSE REPORTER: Well, it does leave it in a very different place, and I think that's exactly what the Russians were hoping
for. This has bought them some time now, with this meeting scheduled for Budapest in a couple of weeks, I should note the date has not been
finalized, but they have agreed that it should be in the next couple of weeks that Trump sits down with Putin face-to-face.
Look, of course, one of the key things, and you mentioned this, that came up on the call yesterday, and is expected to be one of the main subjects
today when Trump sits down with Zelenskyy, is about whether or not the U.S. would provide Kyiv with these long-range Tomahawk Missiles.
Now, from the conversations I've been having, Christina, with White House officials and others throughout the Trump Administration, is that a lot of
this was viewed as a threat. We've heard the president now publicly and privately talk about the idea that Tomahawks could potentially change the
tide of the war, but also that he is more willing to be open to this.
And I know that there is a seriousness behind closed doors about thinking it might be time for the United States to help Ukraine take a more
offensive posture toward Russia. However, the other side of that is that the he also believed it was an attractive threat to try and get Putin back
to the negotiating table, and that's what we saw play out yesterday in the president's phone call with Vladimir Putin.
Now I can tell you that from my conversations and some of my colleagues, is that the president did not take this idea of Tomahawks off the table in
that conversation with Putin. It's unclear, though, if he's going to commit to that with Zelenskyy today. And so that's what we're really watching for
all of this.
And one key thing as well, I think, just to remind some of our viewers about the importance of these Tomahawks, they would allow Ukraine to reach
deeper in to Russia with these missiles than they've been previously able to do. And what we've been hearing from the Russians, and Putin
specifically, has been part of the reason they're so against it is not only because of that capability, but also because these are American made
weapons, and they could potentially require Americans to help operate them.
And that's something that we've heard Putin and others in Moscow argue would be a different level of U.S. involvement that would very much change
the dynamics. And so, there's a lot of you know, fragility around a lot of these conversations, and there's no question that the goal for the Trump
Administration, and for President Trump himself specifically, is to try and find an end to this war.
And the idea now that he's going to be sending people like his Secretary of State, Marco Rubio and others to meet with their counterparts from Russia
to lay the groundwork for this summit between Trump and Putin in Budapest, all of that could potentially mean again, that Putin has bought himself
some time here as the president's desire to try and find an end to this, hopefully diplomatically, in a more peace agreement similar to what he was
able to reach between Israel and Hamas.
[09:05:00]
That is what they are looking for. And so that could potentially change the dynamics of this discussion with Zelenskyy today.
MACFARLANE: Nick, President Zelenskyy has said ahead of this meeting that Vladimir Putin's decision to seek talks with Donald Trump shows that he is
on the defensive. Is Zelenskyy heading into this meeting in a stronger position than in previous times? Where do things stand for him?
NICK PATON WALSH, CNN CHIEF SENIOR INTERNATIONAL CORRESPONDENT: Yeah. I mean, I think one important thing to remember is that Vladimir Putin when
he first launched into what many of his critics called an entirely performative peace process back in sort of February, March, where we had
the talks in Saudi Arabia, was ahead of a summer offensive that I'm sure his military staff promised him would see some kind of strategic change in
their grasp on the eastern front line.
Now we are closing in towards the beginnings of winter, certainly in autumn and Putin, while he's taken a fair bit of ground has not taken the key
towns in the east that he had his sights upon, clearly Kupiansk, Kostyantynivka and Pokrovsk. That may change in the weeks ahead, but when
we hit November, we will be looking at much less foliage on the ground, which in very practical terms, makes it harder for advancing forces to move
forwards and take ground.
So, Zelenskyy is possibly entering this meeting in a better military position than he was earlier on this year. No doubt about that, there has
been remarkable Ukrainian tenacity that will be in the mind of Russian President Vladimir Putin, who may simply think that the weeks here he's
potentially buying himself by offering these talks no date for them, yet at all in Budapest, may allow the magic he thinks that could potentially
happen on the front lines to indeed proceed.
Zelenskyy's meetings, though, in the United States a sea change frankly, he's having meetings with energy officials, with defense officials,
discussing potentially joint production of patriot missile interceptors with Raytheon in Ukraine, a business minded president where six, nine
months ago, he very much came hoping for assistance.
And remember too, a lot of talk about the Tomahawks here, but they are not some sudden, overnight game changer, potentially, the United States doesn't
have that many spare. It normally launches them from the sea from submarines that Ukraine doesn't have. So, a lot of technical things to work
out how you'd launch them from land.
And indeed, we've seen Ukraine's long-range drones launch attacks with the same depth that the Tomahawk indeed has. So, a psychological move,
certainly, if indeed, powerful American weaponry like this is supplied to the Ukrainians through the mechanism of European allies buying it and then
handing it to the Ukrainians.
But what we have to watch for today is whether the threat of those Tomahawks and other potential assistance to intelligence or the firepower
that the Secretary of Defense, Pete Hegseth talked about being supplied to Ukraine, whether that still remains as a stick in the background, while
potentially the carrot of progress at talks in Budapest is also held out as well.
But we also have a U.S. President here, potentially wiser to what Vladimir Putin is capable of or not wanting to yield on the diplomatic front. It
really comes down, I think, here to whether you believe that President Trump, in his soul, at any point, wants to really upset and challenge
Vladimir Putin, nor is pathologically averse to that.
We'll find out more about that today, but certainly Ukraine's President Zelenskyy, enter into these meetings with a greater sense of the U.S.
willing to escalate than we've seen at all so far this year, and also remarkable months in which Russia had been expected to make much more
ground on the Eastern Front line behind him, much could still change, but still a different world Zelenskyy is living in now than March or February,
earlier on this year, Christina.
MACFARLANE: It's good context. Nick Paton Walsh there and Alayna Treene, we appreciate it. Thank you both. Now another high-profile critic of President
Trump is headed for trial. John Bolton has arrived at the U.S. District Court in Maryland to face federal charges related to his time as National
Security Advisor during Mr. Trump's first presidency.
Bolton issued a fiery statement in response, saying he's just the latest target of the Justice Department that's been weaponized by Mr. Trump,
comparing the U.S. President to Joseph Stalin. CNN Crime and Justice Correspondent Katlyn Polantz is outside the courthouse in Maryland where
Bolton is expected to make his first appearance.
And Katelyn we are -- we do understand that John Bolton is now in court. So, before we get to the details of this case, just talk us through what we
may be expecting in the hours to come.
KATELYN POLANTZ, CNN CRIME AND JUSTICE CORRESPONDENT: Well, John Bolton, his lawyers, prosecutors, all of them are assembled here at the courthouse
in Maryland, the federal courthouse. He is very likely to be facing these charges today in his first appearance in court. He says that the Justice
Department is weaponized against him, and he was like -- he would like to fight these charges.
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But first, this court appearance will allow him to hear them formally from the judge and enter his initial pleading very likely. We expect him to say
he's not guilty at this time, but there is that indictment on the table that the Justice Department wants to prosecute. They have gotten it through
a grand jury.
This will be the beginning of the road of that prosecution, formally and it charges John Bolton with 18 counts of transmitting or possessing classified
information, National Defense Information, the prosecutors the Justice Department says he had in an unsecured way and he shouldn't have had or
shared the way that he was using it.
All of that information, according to the indictment, is information he had written that in 2018 and 2019 when he was working as the National Security
Advisor in Trump's White House, essentially daily diaries of what he was doing each day. He would write it down by hand, then transcribe it into a
word document.
And then prosecutors say he would email it to family, two different family members of his, and also send it to himself. Ultimately, some of these
documents were printed out and found in his house just this year by investigators. All of this is very likely to be part of the charges that
are read to John Bolton in court today, and we will see exactly what happens going forward, but at this time, we do believe he is inside this
building awaiting a judge.
MACFARLANE: And Katelyn, there are noteworthy differences between this indictment and those of James Comey and Letitia James in that this is being
brought by career prosecutors rather than a Trump loyalist. So how significant is that?
POLANTZ: That's right. This is being brought by career prosecutors, ones who have worked on this case for many years in the Justice Department
during the Biden Administration and also now during the Trump Administration. It just is at this time, the moment where this case has
come to a head to be charged.
There's also a couple other differences to keep in mind here James Comey and Letitia James both charged in the last couple of weeks, both people
Donald Trump very much dislikes. Trump has been saying publicly he wanted to see them indicted. He wanted to see them in court. That is not what
Trump has been saying recently about Bolton.
He's been much more reticent, even though, several years ago he was very unhappy about Bolton writing a memoir about his time working as National
Security Advisor. Prosecutors say it's quite plausible that some of the notes that he was taking of classified information that are part of this
indictment did ultimately become part of that book.
But that's not the driving force of this case. The driving force of this case is a many-year investigation where prosecutors were looking at what
John Bolton was doing in his personal email accounts, and they found out about it because he had been hacked and they were investigating that first.
MACFARLANE: All right, much more to come on this story in the hours ahead. We'll continue to check in with you Katelyn, appreciate it for now. Thank
you. And now the U.S. State Department has deployed a disaster assistance response team to help surge and coordinate aid into Gaza.
U.S. and Israeli officials say the quantities of aid currently entering the Enclave are in line with what's required under the ceasefire deal, despite
the ongoing dispute over the release of the deceased Israeli hostages under the Trump brokered agreement, 600 trucks a day are supposed to be entering
Gaza.
CNN's Salma Abdelaziz is following this for us. So, all week Salma, we've been seeing this tussle between Israel and the return of these hostages.
You know, Israel and Hamas the return of these bodies. Are the quantities currently entering the Enclave, as the U.S. and Israel say they are at
capacity?
SALMA ABDELAZIZ, CNN CORRESPONDENT: Well, the U.S. says that the number of aid trucks that is going in is does meet the requirements in the ceasefire
deal. And actually, just spent some time watching videos of people on the border, humanitarian workers on the border. And there's such a sense of
joy, because you just see these trucks just flowing in one after another after another.
Israeli officials saying 700 trucks went into the Enclave yesterday. Hamas puts that number at over 400 trucks regardless what we're hearing from U.S.
officials is that that initial threat from Israeli officials that they would scale down the aid, that that threat they have de-escalated it
essentially, and that aid is going in at scale.
So, what does that mean? What does that look like? Well, the World Food Programme says 560 tons of food have entered on average on a daily basis
since the ceasefire was in place, but they still describe aid as critically low. So, when we talk about Gaza needing help, you are literally talking
about building this Enclave from the ground up.
More than 90 percent of homes damaged or destroyed. Most schools damaged or destroyed. Water infrastructure, medicine, all of those systems now near
the brink of collapse, are entirely collapsed and most people living essentially in tents in outdoor spaces. So, you have to begin to provide
everything from hygiene kits to clean water to food to medicine and to prepare those families for the winter.
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And the clock is ticking, because you have people who have gone too hungry for too long, and that need that aid is absolutely crucial to saving lives.
MACFARLANE: And crucial too are the access points to the Enclave. We spoke to World Food Programme yesterday, who said that they are still trying to,
you know, have those points reopened. There was a lot of discussion about the Rafah crossing, which currently remains closed.
However, Israel are saying they are considering opening it, but only for humanitarian supply. Sorry, only for civilian crossing, not for
humanitarian supplies.
ABDELAZIZ: A lot of question marks over the Rafah crossing, but now positive signs, because we have that statement from Israel's foreign
minister saying that it could open on Sunday, that would make a huge difference in terms of allowing that aid to come in.
Another positive sign and this is news that just came out in the last few hours the Gaza Humanitarian Foundation. So, this is this very controversial
group where hundreds of Palestinians have been killed trying to get aid at or near those sites, their operations are now suspended. So, what does that
tell you about the mechanism in place?
It tells you the mechanism is now going to go, most likely, of course, to those agreed upon international actors, such as the United Nations, such as
the World Food Programme. You also talked about USAID, those U.S. officials that are going to be on the ground also overseeing this process.
And they say that they believe that their job is to expand access points and flood the zone, that was the direct quote, and also to push Israeli
officials on allowing that access to continue. So, you're literally going to have Americans on the ground across the region pushing on that process
to make sure that aid gets in.
MACFARLANE: Well, this is promising developments. Salma, thank you. Appreciate it. Now, the son of prominent Palestinian Prisoner, Marwan
Barghouti, has told CNN his father was beaten unconscious by prison guards last month while being transferred between detention centers.
The Israel Prison Service denies the allegations that Barghouti was attacked by eight guards on September 14th, leading him bleeding, bruised
and unconscious for hours. The 66-year-old is considered the most popular political figure in the occupied Palestinian territories, and is seen by
many as the leader best placed to unite Palestinians.
Still to come, sources say the U.S. military has launched another strike in the Caribbean, as the White House says it's targeting the illegal flow of
drugs from Venezuela. How Caracas is reacting just ahead?
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MACFARLANE: CNN has learned the U.S. military has carried out another strike on an alleged drug boat in the Caribbean. Sources tell us, it
appears some crew members on the boat survived, though their current status is unclear. The U.S. military has carried out at least six separate strikes
in what the White House says is part of an effort to combat drug trafficking.
It comes after U.S. President Donald Trump also said he authorizes CIA to operate inside Venezuela. The Venezuelan Ambassador to the U.N. condemned
U.S. actions.
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SAMUEL MONCADA, VENEZUELAN AMBASSADOR TO THE U.N.: This act is yet another chapter in the escalation of U.S. bombings carried out since September
against civilian vessels traveling in international waters of the Caribbean Sea. And so far, it has resulted in five attacks and 27 deaths.
We must point out that some of the victims have been identified by their families and governments as nationals of Colombia and Trinidad. We
emphasize this fact that they are from Colombia and Trinidad because it shows that it affects the entire region. This is not just a Venezuelan
issue. We are taking action because the threats are directed at us, but the victims are also from other countries.
(END VIDEO CLIP)
MACFARLANE: CNN Senior National Security Reporter Zachary Cohen has latest from Washington. And Zachary, this was actually the first time one of these
strikes was not made public by the Trump Administration. What more you learning about this?
ZACHARY COHEN, CNN SENIOR NATIONAL SECURITY REPORTER: Yeah, it's really notable that this is the first strike that we are learning from reporters
in the media, not the U.S. administration, that it was -- it was carried out. And look, as you said, it's also the first strike that does not appear
to have immediately killed everyone on board.
That is notable, because we need raise questions about the status of any potential survivors that may have been on that boat, and who, which country
maybe picked up the survivors, and what are their whereabouts now?
Now, of course, Trump officials have insisted that everyone, and every one of these boats that has been targeted in the Caribbean was being operated
by a crew of, quote, Narco Terrorists. They've insisted that there is substantial intelligence to support that idea.
But at the same time, lawmakers here in the United States have raised serious questions about the validity of that Intel and specificity of it,
saying that in briefings, the few briefings that they've received from the Department of Defense, that it seems that they don't have a clear sense of
the even the identities of the individuals that have been killed in these strikes.
So again, this comes also, as we're reporting recently, that the legal justification the Trump Administration is using for these strikes is based
around a classified secret memo of sorts. It was -- it was contrived by the Trump Administration, and it includes a secret and expansive list of drug
cartels and drug traffickers that the administration believes it can target with lethal force.
And at the same time, we're also reporting that at least one of these strikes was carrying a crew of Colombians coming from Colombia. So, you
heard the Ambassador to Venezuela referring to this being a regional problem, our reporting would suggest that the mission in the Caribbean
right now by the Trump Administration is far more expansive than previously known, and does go beyond Venezuela itself.
Now, Venezuela has been of particular focus for the Trump Administration. They've gone through great lengths to try to tie Nicolas Maduro, the Leader
of Venezuela, to these drug cartels, publicly declaring that he is viewed as the illegitimate leader of Venezuela.
Yesterday, Donald Trump stopping short of saying that he has authorized the CIA to forcibly remove Maduro from power, but again acknowledging, in a
frankly a stunning admission, that he has authorized the CIA to operate inside Venezuela itself.
So, in addition to this military buildup, we know is has -- is currently in place in the Caribbean. The U.S. intelligence community is very involved as
well. But again, the legal questions around these strikes will continue to mount as more details come out and as more strikes continue, that's
something the Trump Administration makes -- has made queer they intend to move forward with.
MACFARLANE: All right. Zachary Cohen, for now, we appreciate it. Thank you. Ahead on "Connect the World", is it time to worry about the economy? We'll
discuss why top bankers are talking about seeing cockroaches and vulnerable stocks are seeing double digit falls. That's right after this.
(COMMERCIAL BREAK)
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MACFARLANE: Welcome back. I'm Christina Macfarlane in London, and you are watching "Connect the World". These are your headlines this hour. U.S.
President Donald Trump says he'll travel to Budapest, Hungary within two weeks or so to meet with Russia's Vladimir Putin. The announcement followed
a two-and-a-half-hour phone call between the two leaders on Thursday.
Mr. Trump, meanwhile, is set to host his Ukrainian Counterpart, Volodymyr Zelenskyy, at the White House in the coming hours. Mexico's President says
the death toll from last week's flooding has risen to 77, dozens of other people remain missing. The Mexican Navy says it's been operating several
flights a day to disaster struck regions, delivering aid and clearing debris.
Former U.S. National Security Advisor John Bolton has arrived in Court to face federal criminal charges. A federal indictment accuses Bolton of
sharing classified information from his time in Donald Trump's first administration. Bolton denies wrongdoing and says the charges are
retribution for his criticism of the president.
Senior National Security Analyst Juliette Kayyem joins us. She's a Former Homeland Security Official in the Obama Administration. Great to have you,
Juliette. So, look the mishandling just to dig into this case a little bit, the mishandling of classified documents is not uncommon for former
government officials. But in this instance, we're hearing that the evidence is quite incriminating. It is quite thorough. Can you talk us through what
you know of that?
JULIETTE KAYYEM, CNN SENIOR NATIONAL SECURITY ANALYST: Yes, yes. And you know two things can be true, that Bolton is targeted by the president, and
we certainly know there's no love lost between the two of them, and that the indictment at least alleges some very serious crimes up to 16.
Basically, what the government is alleging is that Bolton shared information about serious national security issues, including impending
threats. So, this wasn't just in the past. It was talking about things that could happen. On an AOL account, and that AOL account -- and he sent it to
people with no security clearance, or described how many members.
And that AOL account was eventually hacked by the Iranians. That's serious. And it's more serious than most cases in which someone may be erroneously,
you know, brought home classified information or didn't protect it in a safe in their office. And so, this is what the government is alleging.
MACFARLANE: Bolton's lawyer is saying that, you know, like through many public officials through history -- Bolton has kept diaries. That's not a
crime. But the difference here Juliette as Katelyn was saying earlier is that it was actually -- you know he kept handwritten notes of his time in
office, and that was what was shared then with his family. I mean, have you ever heard of that sort of scenario before? It seems very unusual.
KAYYEM: It is very unusual. So, you're exactly right. It's the transmission issue that is key to this. It isn't just he took something home and made a
mistake and it should have not been brought home or printed out. That kind of stuff happens a lot.
Unfortunately, I will say, you know, I've had security clips at various times in my career, the thing that they warn you about is what we call
pillow talk. Do not share with family members, do not disclose, transmit to family members, even if a spouse. It is the sort of weak link in security
clearances. Bolton should have certainly known this.
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MACFARLANE: Yeah, and we will wait to see he is in court right now how this plays out. Appreciate it for now. Juliette, thank you. Well, that is the
opening bell on Wall Street. Steep losses Thursday. Have we seen for two regional banks, Western Alliance and Zions Bancorp, both down more than 10
percent.
Both warning about losses from loans that might not be repaid. And now Wall Street is wondering who else is in trouble? Just a few days ago, Jamie
Dimon, the Head of JP Morgan Chase told analysts, when you see one cockroach there are probably more. His own bank lost $170 million last
month from just one client that had failed.
CNN's Matt Egan is joining us from New York with more. So, two banks warning over bad debt, sparking some real concerns the sell off may be a
minute. Matt, how concerning is this?
MATT EGAN, CNN REPORTER: Yeah, Christina we'll look fasten your seat belts, because, yes, the ride on Wall Street has gotten a lot bumpier in the past
10 days or so. You know, the focus a week ago was on the U.S., China trade war. Then there were concerns about bad loans, and this morning, more focus
on U.S. China.
We're looking at how U.S. markets opening the day flat to slightly lower. This is actually an improvement from a few hours ago, when U.S. Stock
Futures were signaling a significant loss at the opening bell. One of the reasons why markets may have bounced off those lows is the fact that a U.S.
official tells CNN that Treasury Secretary Scott Bessent plans to have a phone call with China's Vice Premier on the ongoing U.S. China trade
negotiations.
Investors are certainly hoping for some good news on that front. And just in the last few moments, the president also was on Fox Business, and he
said that he agrees that 100 percent tariff increase on China is just not sustainable. And he repeated that he does think that everything is going to
turn out OK between the U.S. and China.
Now, we do see a lot of different signs of concern in the marketplace in the last few days. The VIX Volatility Index skyrocketing to the highest
level since May. And CNN's Fear and Greed Index of Market Sentiment moving all the way into extreme fear yesterday for the first time since April,
back during all of that chaos in the trade war.
And keep in mind, just a month ago, this reading was in greed mode. Now, one of the focuses here is on the investment bank Jefferies. Jeffries lost
11 percent of its value yesterday. This stock is down by more than a quarter in just the past month, and that's because Jefferies is among the
banks that's been caught up in those back-to-back bankruptcies last month, right?
First there was the sub prime auto lender that went under, and then there was the auto supplier, first brands that Jeffries lent to. Now Jeffries has
said that they can absorb any losses here, and the bank has noted that that bankruptcy may have had to do with fraud. And the suggestion there is that
lenders might not have had an accurate picture of what was actually going on with that company.
But it's not just about Jefferies. These fears have spread to other banks, including regional lenders, Western Alliance and Zions, which yesterday,
they each said that they believe they were misled by companies that they lent to and again, another allegation of fraud there. Those stocks are
losing significant value yesterday.
But some of the selling has also spread into some of the alternative asset managers, like Blackstone and KKR. These have been two of the bigger
players in the private credit boom. And investors, they're just wondering if there's more shoes to drop here. They're thinking about if there's some
bad loans that some of these banks made, what other loans are lurking out there on balance sheets? And what do those loans look like if the economy
suddenly gets into some trouble?
Now I would just note though, that despite the losses yesterday and in recent days, still been a great year for the stock market. I mean, look at
how much the markets have bounced back from those historic sell offs back in April. You're looking at the DOW, the S&P 500 and the NASDAQ all having
very solid gains.
I think the question here Christina is whether or not these are just isolated incidents of bad loans, or if this is the start of some more
widespread trouble? And the answer to those questions is going to go a long way into saying whether or not the market is going to be able to continue
with these gains, or if we could see some more volatility ahead. Back to you.
MACFARLANE: Yeah, certainly a wait and see moment. Fingers crossed. Matt Egan appreciate it. Thank you.
EGAN: Thanks Christina.
MACFARLANE: China is blaming Washington for creating something of a global panic over Beijing's new rare earth restrictions.
[09:35:00]
That's after Beijing announced sanctions against subsidiaries of South Korean Shipbuilder Hanwha Ocean, alleging it's involved in a U.S.
investigation. Hanwha is one of the South Korean firms helping the U.S. play catch up with China on the high seas, as Mike Valerio reports.
(BEGIN VIDEOTAPE)
MIKE VALERIO, CNN CORRESPONDENT (voice-over): From the moment you step inside this cathedral of cranes, the planet's biggest shipbuilding complex,
operated by HD, Hyundai Heavy Industries in Ulsan, South Korea, and on nearby Geoje Island, a harbor where giants are born, run by Hanwha Ocean.
You get the feeling you're in a city of ships.
VALERIO: We're here at the world's largest shipyard, and it is wild, colossal ships everywhere.
VALERIO (voice-over): This single site builds about ten times as many large commercial ocean vessels as the United States builds in a single year. And
South Korea's President Lee Jae Myung says his country can help, quote, make American ship building great again. President Trump has taken notice.
DONALD TRUMP, PRESIDENT OF THE UNITED STATES OF AMERICA: They build them very well in South Korea. They're also thinking about coming to our country
with some shipyards to start us on the process of building ships again.
VALERIO: What we're looking at right now are about 20 vessels that are under construction all at the same time. Hyundai tells us this year it's
expected to deliver 50 ships, all from this colossal facility in Ulsan, South Korea.
VALERIO (voice-over: Why it matters? China now builds warships at a pace the U.S. cannot match. It has a navy that's larger, backed by a network of
sprawling shipyards. The U.S. has just four public shipyards left, down from 11 after World War II. Shipyards back in the U.S. are jammed, too few
docks, too little capacity. So now the U.S. Navy is sending some of its ships here to South Korea for essential repairs.
VALERIO: What's the most difficult part of all of this?
VALERIO (voice-over): This is the third Navy cargo ship Han (ph) was repaired the USNS Charles Drew. HD Hyundai just started work on another
navy ship a few weeks ago. Danny Beeler is the Principal Engineer on the Charles Drew.
DANNY BEELER, PRINCIPAL PORT ENGINEER, USNS CHARLES DREW: Me as the person that's worried about all the maintenance on the ship and fixing things, I
can get a lot more done in a shorter time period and a shipyard like this, as opposed to one back home.
VALERIO (voice-over): The before and after difference rust to renewal, it's worked to keep the U.S. fleet running overseas. Analysts say South Korea's
shipbuilders are known for finishing on time and on budget, one of their secret components from nearby supply chains.
LEE JIN, VICE PRESIDENT, HD HYUNDAI HEAVY INDUSTRIES: Here in Korea, we can get that in one day or one hour maximum to one week.
JEON YU-SU, GENERAL MANAGER, HANWAH OCEAN: Hanwha Ocean also has a supply chain established within 50 kilometers of the shipyard, which enables us to
get necessary material or manpower from our established relations with companies to quickly repair a ship.
VALERIO (voice-over): A next step in the partnership could be South Korea building not just repairing U.S. Navy ships. But U.S. law would need to
change. Foreign companies are barred from constructing American warships. The Navy Secretary says he is open to a change.
JOHN PHELAN, U.S. SECRETARY OF NAVY: In the short run, I have got to get holes in the water, and so that means all options are open, so we have to
look at foreign and domestic.
VALERIO (voice-over): Hanwha already runs a shipyard in Philadelphia, and wants to grow. Hyundai too, is looking for a bigger U.S. foothold. The
question now, could parts of America's warships be built here in South Korea as the U.S. tries to revive a once mighty shipbuilding industry with
South Korean help.
VALERIO: What about construction of U.S. Navy ships? Is that the goal?
YU-SU: Yes.
VALERIO: Yes.
VALERIO (voice-over): Mike Valerio, CNN, Ulsan and Geoje, South Korea.
(END VIDEOTAPE)
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[09:40:00]
MACFARLANE: UK, authorities are working to reverse a ban on Maccabi Tel Aviv soccer fans from attending a Europa League game against English side
Aston Villa in Birmingham next month. In a statement, Villa said police had recommended barring visiting fans due to public safety concerns.
The decision has drawn swift condemnation from sports organizations, Jewish groups, and politicians, including British Prime Minister Keir Starmer, who
urged local authorities to ensure fans of the Israeli team could attend the match.
It's hard to overstate how much reaction this police recommendation is sparked here in the UK? And we're going to be discussing it with a football
policing expert in the next hour. And coming up next on "World Sport", a new chapter in the Liverpool Manchester United rival is set to unfold this
Sunday. Amanda Davies is there to preview it with Former United Player after this quick break, stay with us. I'll be back at the top of the hour
with more "Connect the World".
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[09:45:00]
(WORLD SPORT)
[10:00:00]
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