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Stock markets across globe have finished lower, prompted by fears of another global recession. In the US, stocks seesawed1 through the session before closing lower. The Dow fell 173 points to finish around 1.6 per cent lower. European stocks closed down as recession fears and global growth concerns continued to spook investors2. The FTSE in London fell 51 points to finish 1 per cent lower. And in Asia, the Hang Seng also ended the week lower, falling just over 3 per cent.
And back home, the Australian share market slumped3 3.5 per cent on close, seeing around $40 billion wiped off the value of the market. The All Ords index slumped 3.4 per cent. And the Australian dollars is currently hovering4 around 104 US cents.
Ratings agency Standard & Poor's says it's confident it will maintain France's AAA credit rating. Rumours5 that the country could face a downgrade had made the markets jittery6. But the S&P says it's confident in France's top-notch rating. Earlier this month, the agency cut the credit rating of the US from AAA to AA+ for the first time in its history.
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1 seesawed | |
v.使上下(来回)摇动( seesaw的过去式和过去分词 );玩跷跷板,上下(来回)摇动 | |
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2 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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3 slumped | |
大幅度下降,暴跌( slump的过去式和过去分词 ); 沉重或突然地落下[倒下] | |
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4 hovering | |
鸟( hover的现在分词 ); 靠近(某事物); (人)徘徊; 犹豫 | |
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5 rumours | |
n.传闻( rumour的名词复数 );风闻;谣言;谣传 | |
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6 jittery | |
adj. 神经过敏的, 战战兢兢的 | |
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7 portfolio | |
n.公事包;文件夹;大臣及部长职位 | |
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