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COY WIRE: Hello, everyone.
Hope you had a marvelous Monday.
Like Miss Ennis says, from her eighth grade ELA class,
it's time to rise up and make it a terrific Tuesday.
Welcome to CNN 10.
I'm Coy.
Grateful to be here with you.
Lots to get to.
So let's go.
Last week, stocks worldwide reached
a low not seen since 2020, a sign that the global economy
is weakening.
There are growing fears that this
could mean the start of a recession
despite a strong job market.
Now, in economics, a recession is a significant and widespread
downturn in economic activity.
And a popular rule of thumb for identifying a recession
is when there are two consecutive economic quarters
of decline.
Forecasters are warning of serious economic hardship
ahead.
Banks are raising interest rates.
And that means money is more expensive to borrow,
for both businesses and consumers.
The Federal Reserve has raised rates in the hopes
that consumers will spend less, which reduce the supply
of money in circulation.
That would then lead to lower inflation
and less economic activity.
This is called cooling off the economy.
Economists say, ideally, the market will have a growth
recession or a prolonged period of small growth
and rising unemployment.
The pain of this type of recession is still significant.
But it doesn't pull the entire economy
into a major decline, the way a fullblown recession would.
More now from CNN's Brian Todd, who
explains what might happen to the global economy
and how all of us might feel the effects.
BRIAN TODD: The stock market tumbles.
Gas prices, on average, start to tick up after dropping for more
than three straight months.
All coming with punishing interest rate hikes,
the last one just announced by the Fed.
Its chairman saying, he understands
American sticker shock.
JEROME POWELL: We have got to get inflation behind us.
I wish there were a painless way to do that.
BRIAN TODD: But for many Americans,
recession jitters have set in.
DYLAN RATIGAN: American anxiety is high, obviously.
It's also self-fulfilling.
So the more you think about it, the more you create it.
BRIAN TODD: While no one knows for sure if there will be
a recession, some analysts believe, if it comes,
it will likely happen sometime next year,
as the fallout from rising interest rates
starts to affect American spending patterns.
But for some, it feels like recession is already here.
Analyst Dylan Ratigan says the housing market
is the factor which could have the biggest
psychological effect on Americans.
And the news on that front isn't good.
Mortgage rates continue to climb.
More people are being priced out of the housing market.
And home sales are declining.
DYLAN RATIGAN: That creates a slowdown in how people feel,
which changes their behavior relative to travel,
restaurant, shopping, other expressions
of economic confidence.
BRIAN TODD: Another contributor to the recession
jitters, prices at the pump.
MARK ZANDI: Nothing is more important
to the collective psyche and to our perceptions
of our own finances and the economy's
performance than how much it costs
us to fill our gasoline tank.
COY WIRE: Now, as we speak, a major hurricane
is causing urgent evacuations in places not used to getting
hit directly by a hurricane.
When we produced this show, it was a category one storm.
But it was expected to rapidly intensify
possibly to a category four storm
over the next couple of days.
Hurricane Ian is anticipated to cross over Cuba
and make landfall on the West Coast
of Florida and the Florida panhandle by midday Thursday.
But there's a lot of uncertainty about the hurricane's
track and its intensity.
Governor Ron DeSantis has declared a state of emergency
for the entire state of Florida, with storm
conditions, quote, "projected to constitute a major disaster,"
unquote.
While all of Florida may feel some effects from the storm,
the Tampa area could get its first direct hit
from a hurricane since 1921.
The mayor of Tampa telling residents, if you can leave,
leave now.
Damaging winds and storm surge flooding
would be the biggest concerns.
Hurricane Ian is the fifth hurricane
of the Atlantic season.
CNN meteorologist Jennifer Gray tells us how
these storms get their names.
JENNIFER GRAY: Andrew, Katrina, Harvey,
Irma, these are some hurricane names most of us
will never forget.
But naming hurricanes has taken some trial and error.
And some of the roles are still changing.
In the early days, military meteorologists
used to name storms after their wives, girlfriends.
But none of these names were made public.
Then in 1950, everything changed.
The US Weather Bureau started naming storms.
They began using the World War II phonic alphabet, Abel,
Baker, Charlie, Dog, Easy.
But this created confusion as well.
Because every year, the storms were named the same.
In 1953, the US started using only female names.
Then in 1979, we started alternating
between men and women.
And we recycle that list every six years.
In the Atlantic Basin, now, we mostly use English,
Spanish, and French names.
Storms are given short, distinctive names
to help communication and avoid confusion.
You can't request a storm to be named after you.
And there are no storm names that begin with q, u, x, y
or z, frankly, because there just aren't many names
that start with those letters.
The naming process is handled by the United Nations World
Meteorological Organization.
A storm name will be retired if it's too costly, deadly, or too
inappropriate to be used again.
In fact, from 1953 to 2020, there have
been 93 storm names retired.
And just like each individual name,
each storm has its own personality.
COY WIRE: 10 second trivia.
Roughly 1/3 of the Earth's land is
covered by what continent, Africa,
Asia, North America, or Europe?
If you said Asia, raise your hand.
It's the world's largest continent, home
to over 4.6 billion people.
After 2 and 1/2 years of tight pandemic restrictions,
some parts of Asia are beginning to reopen borders.
Japan, for example, is fully opening its doors
to tourists on October 11th.
Hong Kong and Taiwan are abandoning
their mandatory hotel quarantine policies.
So far, mainland China continues to enforce
its zero COVID policy.
But there are some signs that those rules could change too.
Let's take a trip to Japan to get
the full story from CNN international correspondent
Michael Holmes.
MICHAEL HOLMES: Soon, these streets of Tokyo
could be filled with more visitors to the city, as Japan
and many other places in Asia lift
many of their remaining COVID-19 restrictions, in some cases,
in place for more than 2 and 1/2 years.
As of October 11, Japan will fully
open to all tourists not just those
on guided tours or people who booked
through registered travel agencies, who started
trickling in over the summer.
It's a sigh of relief for businesses
who rely on the income generated by the visitors.
Across Asia, coronavirus measures are being relaxed,
if not dropped, to keep up with other countries
who've already reopened.
With the hope of reviving economies
battered by the pandemic.
The kingdom of Bhutan welcomed back a handful of tourists
on Friday, the first in more than two years.
But that's now an even more expensive trip for visitors,
who will be charged a fee of $200
per night, per person instead of the $65 fee in place
for three decades.
Taiwan also following the trend by ending
its mandatory COVID-19 quarantine
for international travelers in mid-October.
And as of Monday, people arriving in Hong Kong
will no longer have to undergo mandatory hotel quarantines.
Although, they will have to self-monitor for three days.
JEMMA ARMSTARON: I was pretty happy because now
my family can visit me.
And like I haven't seen them in so long.
So it'd be great for them to come and visit finally.
MICHAEL HOLMES: It's been a slow, staggered reopening
for some Asian countries.
But with the increased vaccination rates
and lower numbers of deaths and hospitalizations from COVID,
the price of isolation just became too steep.
COY WIRE: All right, warning, our story today that gets a 10
out of 10 is cuteness overload.
Check out this baby elephant at the famous Whipsnade Zoo
in Bedfordshire, England, who was just named Nang
Phaya, the Thai word for queen.
Is this the cutest darn that you've ever seen?
Named after the late Queen Elizabeth II.
Get this.
The queen once fed a banana to the calf's mom
on a trip to that zoo.
And now here's a totally irrelevant fun fact for you.
Did you know that, when baby elephants are born,
there are about three feet tall, weigh 265 pounds.
They can stand within 20 minutes and walk within an hour.
Elefantastic.
Also fantastic, special shout out
to Mrs. Nichols' government class at Chaparral High
School in Scottsdale, Arizona.
Thanks for subscribing and commenting
at youtube.com/cnn10.
I'm Coy Wire.
Have a wonderful one.
Now go and make someone smile today.