CNN News: 美股遭遇黑色星期三暴跌

This has not been a good week for the U.S. Stock Market. Monday and Tuesday stocks were flat for the most part. There wasn't a huge change in closing prices for the Dow Jones Industrial Average of 30 significant stocks. But Wednesday, stocks took a dive dropping nearly 832 points and Thursday wasn't much better. The Dow closed down almost 546 points. So what areinvestors afraid of? What's causing them to sell their stocks generating a drop in stock prices?The big factor is rising interest rates. If the U.S. economy grows too fast so does the threat of inflation, when prices rise and money buys less.The Federal Reserve, America's Central Bank, has a tool it can use to try to limit inflation. It can raise interest rates to slow down the economy.But one side effect of that is that higher interest rates make it more expensive for American consumers and businesses to borrow money. If they can borrow less, they tend to spend less. So companies on the stock market make less in profits and investors sell their stock. It's a connected chain of events. Wednesday was one of the U.S. Stock Market's worse days ever in terms of the number of points it lost.

本周對(duì)美國(guó)股市來(lái)說(shuō)是不太好的一周。股市在周一和周二大部分時(shí)間呈持平狀態(tài)。當(dāng)時(shí)擁有30支重要股票的道瓊斯工業(yè)平均指數(shù)在收盤(pán)時(shí)沒(méi)有大幅波動(dòng)。但是美股在周三突然暴跌近832點(diǎn)，而且周四依然沒(méi)有好轉(zhuǎn)。道指收盤(pán)時(shí)下跌近546點(diǎn)。那投資者在擔(dān)心什么?是什么讓投資者拋售股票導(dǎo)致股價(jià)下跌?重要因素是不斷上升的利率。人們擔(dān)心美國(guó)經(jīng)濟(jì)增長(zhǎng)可能過(guò)快，也擔(dān)心通貨膨脹帶來(lái)的威脅，通脹指物價(jià)上漲而貨幣貶值。美國(guó)中央銀行美聯(lián)儲(chǔ)有方法可以限制通脹。其可以通過(guò)提升利率來(lái)放緩經(jīng)濟(jì)。但是這種方法的副作用是，利率上升會(huì)使美國(guó)消費(fèi)者和企業(yè)的貸款成本增加。如果他們減少借貸，他們會(huì)傾向于減少花費(fèi)。這樣一來(lái)，上市公司的利潤(rùn)就會(huì)減少，投資者則會(huì)開(kāi)始拋售股票。這是一系列相互關(guān)連的事件。就下跌點(diǎn)數(shù)來(lái)看，周三是美國(guó)股市史上最糟糕的一天之一。

UNIDENTIFIED FEMALE: The U.S. Market started the day lower and the losses only got worse. In the end, the Dow closed down more than 800 points and that was it's third worst points drop in history. The tech nominated NASDAQ was the worst hit down more than 4 percent. It's worst day in over two years. Now fears among investors have been rising in recent weeks. Ironically because of mounting evidence of the strength of the U.S. economy. We saw that reinforced again last week with news that U.S. unemployment was at it's lowest level in nearly 50 years.

身份不明的女性：當(dāng)天，美國(guó)股市在開(kāi)盤(pán)后開(kāi)始下跌，而且跌幅越來(lái)越嚴(yán)重。最后，道指收盤(pán)時(shí)暴跌超過(guò)800點(diǎn)，這是史上第三大嚴(yán)重的指數(shù)下探?？萍贾笖?shù)納克達(dá)克是受影響最嚴(yán)重的指數(shù)，跌幅超過(guò)4%。這是股市兩年多以來(lái)最糟糕的一天。近幾周以來(lái)，投資者的擔(dān)心在不斷增加。諷刺的是，他們擔(dān)心的原因是有越來(lái)越多的證據(jù)表明美國(guó)經(jīng)濟(jì)走勢(shì)強(qiáng)勁。上周這一形勢(shì)再次得到了證實(shí)，因?yàn)樾侣剤?bào)道稱美國(guó)失業(yè)率已降至近50年來(lái)的最低水平。

Now the problem with this strong economy is that it's leading to higher interest rates. Higher bond yields which effect everything from car loans to mortgage rates and a potentially faster pace of rate rises from the Federal Reserve which could raise borrowing cost for companies and hit earnings. Tech stocks were the worst hit. Apple, Amazon, Facebook and especially Twitter all sharply lower on the day.

現(xiàn)在的問(wèn)題是，經(jīng)濟(jì)強(qiáng)勁會(huì)導(dǎo)致利率上升。而國(guó)債收益率上升會(huì)對(duì)汽車貸款和抵押貸款率等一切事物造成影響，而美聯(lián)儲(chǔ)可能會(huì)以更快速度加息的猜測(cè)則會(huì)使企業(yè)的借款成本增加并對(duì)收益造成影響?？萍脊善笔鞘苡绊懽顕?yán)重的股票。當(dāng)天，蘋(píng)果、亞馬遜和臉譜網(wǎng)的股票均出現(xiàn)暴跌，推特的跌幅尤為嚴(yán)重。

Now these are seen as the riskiest stocks and that means they're the first place the investors pull their money out of when interest rate fears are rising. And on top of that, with no signs of a breakthrough in the U.S.- China trade war, investors are getting increasingly nervous about a slowing Chinese economy. That played out today in some of the luxury stocks that rely on the Chinese market.

現(xiàn)在，這些股票被視為風(fēng)險(xiǎn)最大的股票，即當(dāng)利率上升時(shí)，投資者會(huì)首先從這些股票中撤資。除此之外，由于目前沒(méi)有跡象表明中美貿(mào)易戰(zhàn)會(huì)出現(xiàn)突破性進(jìn)展，所以投資者愈發(fā)擔(dān)心中國(guó)的經(jīng)濟(jì)增長(zhǎng)將放緩。今天，這在一些依賴中國(guó)市場(chǎng)的奢侈品股票中有所體現(xiàn)。