CNN News: 美國股市觸發(fā)熔斷機(jī)制

Yesterday did not go well for international stock markets. After drops in other exchanges around the world, the U.S. stock market set a record and not a good one.

昨天國際股市表現(xiàn)不佳。美國股市在全球其他股市下跌之后，創(chuàng)造了新記錄，但不是好的方面。

The Dow Jones Industrial Average is an index of 30 significant stocks. It includes companies like Disney and McDonalds and it's one major indicator of how the market as a whole is doing. The Dow dropped so far so fast yesterday that a circuit breaker kicked in. A temporary stop to trading to give investors a chance to catch their breaths.

道瓊斯工業(yè)平均指數(shù)是由30只重要股票組成的指數(shù)。它包括迪斯尼和麥當(dāng)勞這樣的公司，是反映整個市場運(yùn)行情況的一個主要指標(biāo)。道瓊斯指數(shù)昨日下跌如此之快，以至于觸發(fā)了熔斷機(jī)制。交易暫停，給投資者喘息的機(jī)會。

It lasted 15 minutes and when everything was said and done with at the end of the day, the Dow had lost more than 2,000 points. Its worst point drop than on any other day in history. What's more important to investors than the points though are percentages. The Dow lost 7.8 percent of its value.

整個過程持續(xù)了15分鐘，當(dāng)一切都結(jié)束時，道瓊斯指數(shù)下跌了2000多點(diǎn)。這是歷史上最糟糕的一天。對投資者來說，比分?jǐn)?shù)更重要的是百分比。道瓊斯指數(shù)下跌7.8%。

That's not its biggest percentage drop ever but it was its worst day since October of 2008 when the "Great Recession" was dragging down the world economy. Why did this happen? Two main reasons.

這不是該指數(shù)有史以來最大的百分比跌幅，但卻是自2008年10月“大衰退”拖累全球經(jīng)濟(jì)以來最糟糕的一天。為什么呢?原因主要有兩個方面。

One of them was oil prices. They collapsed on Monday after a disagreement over oil production between Saudi Arabia and Russia. They're two major producers of oil and though lower oil prices can translate to lower gas prices, which many drivers see as a good thing. Investors don't like falling oil prices because they often correspond with a weakening global economy. So this was a big reason why there was a sell off in the U.S.

其中之一是油價。周一，在沙特和俄羅斯就石油生產(chǎn)問題發(fā)生分歧后，油價暴跌。這兩個國家都是主要的石油生產(chǎn)國，雖然油價下跌會導(dǎo)致天然氣價格下跌，但許多司機(jī)認(rèn)為這是一件好事。投資者卻不喜歡油價下跌，因?yàn)橛蛢r下跌往往與全球經(jīng)濟(jì)疲軟相一致。這是美國股市出現(xiàn)拋售的一個重要原因。

stock market yesterday and that triggered the circuit breaker.

昨天股市又觸發(fā)了熔斷機(jī)制。

UNIDENTIFIED MALE: It doesn't matter whether the -- the circuit breakers on an electrical box or in the stock market the concept remains the same. If there's too much power, too much force coming down the pipe the circuit breaker kicks in and everything stops. In 1987 with "Black Monday", the Dow Jones Industrials fell more than 500 points. It was a loss of 22.6 percent.

未知男性：不管是電氣箱上的斷路器還是股票市場上的斷路器，原理都是一樣的。如果有太多的能量，太多的力通過管道，斷路器就會啟動，一切就會停止。1987年的“黑色星期一”，道瓊斯工業(yè)指數(shù)下跌超過500點(diǎn)，損失22.6%。

It is still the largest percentage daily fall in the Dow's history. There was a feeling at the time of financial Armageddon. The world was coming to an end. The market decided to put in place various circuit breakers so that trading would be slowed. Those who are in favor of circuit breakers say that when properly used with proper perimeters, the circuit breaker merely allows time for thought.

這仍是道指歷史上單日跌幅最大的一次。有一種在金融世界末日的感覺。市場決定實(shí)施各種熔斷機(jī)制，以降低交易速度。那些贊成熔斷的人表示，當(dāng)正確地使用，熔斷機(jī)制給了人們思考的時間。