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新视野大学英语视听说教程3 Unit 10-15

时间：2010-10-08 02:57:57

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Task 3: A Stock Market Crash

A stock market crash is a dramatic loss of shares of corporations. Crashes often follow speculative1 stock market bubbles such as the dot-com boom.
After the most famous crash in 1929, known as the Black Thursday when the Dow Jones Industrial Average dropped 50%, there came the Great Depression. The following years saw the Dow drop a total of over 85%.
There was also a crash on Monday, October 19, 1987, known in financial circles as the Black Monday, when the Dow lost 22%of its value in a single day, bringing to an end a five-year bull run. The pattern was repeated across the world.
The stock market downturn of 2002 was part of a larger bear market that took the NASDAQ 75%from its highs and broader indices down 30%.
Stock market crashes are driven by panic as much as by economics factors. They often follow stock market bubbles. So long as the prospect2 of further daily drops in the value stocks continues, those who invest in equities3 will be discouraged. If few people are willing to make further investments, a bear market is expected to persist.


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1 speculative uvjwd     
adj.思索性的，暝想性的，推理的
参考例句：
  • Much of our information is speculative.我们的许多信息是带推测性的。
  • The report is highly speculative and should be ignored.那个报道推测的成分很大，不应理会。
2 prospect P01zn     
n.前景，前途；景色，视野
参考例句：
  • This state of things holds out a cheerful prospect.事态呈现出可喜的前景。
  • The prospect became more evident.前景变得更加明朗了。
3 equities 501c457a1f918a4b41824052f5a3f5eb     
普通股，股票
参考例句：
  • These are invested mainly in the OECD bonds and equities. 这些资产主要投资于经济合作及发展组织的债券与股票市场。
  • They are also advantage of the global rebound in equities. 它们还在利用全球股市反弹的机会。

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