VOA标准英语2011--Markets Erase Gains, Dow Loses 519 Point

Markets Erase¹ Gains, Dow Loses 519 Points

Stock volatility² continued on Wall Street Wednesday as markets turned their attention once more to the weak global economy. After an impressive rally Tuesday, fears about high levels of public debt in the U.S. and Europe have erased³ all the gains and then some. There is growing concern that the global economy may be heading toward another painful recession.
Despite the U.S. Federal Reserve's assurances that it will keep interest rates near record lows for the next two years, all the gains made this week evaporated even before the opening bell.
On closer examination, New York trader Keith Bliss⁴ says many now see the Fed announcement as an admission that the world's most powerful central bank is out of ammunition⁵.
"The Fed is basically out of bullets. It's similar to those Hollywood movies where you see the guy fire all his bullets and now the only thing he has left to do is throw his gun," Bliss said.
But Bliss says the slowing U.S. economy is not the only issue roiling⁶ the markets.
"And this is how skittish⁷ and temperamental the market is. It reacts not only to factual aspects and fundamental aspects, but also rumors⁹. So there was a rumor⁸ that S & P (ratings agency Standard & Poors) was going to downgrade France's debt, there's rumors that there are French and German banks in trouble because they're holding a lot of sovereign debt over in Europe," Bliss said.
Some see the combination of a weak U.S. outlook and the prospects¹⁰ of another debt crisis in Europe as a recipe for a double dip recession. Financial expert Jon Henes tells VOA even the remedy is fraught¹¹ with peril¹².
"We have a debt problem in the United States and we have a debt problem in Europe. And to get out of a debt problem you have to reduce debt and when you reduce debt you end up having slow economic growth," Henes said.
It is a tough pill to swallow for many Americans, who have seen the financial market's losses eat into their retirement¹³ savings¹⁴.
"To see my 401K (tax-deferred retirement fund) drop 40 percent over the last year or two, even more so in the past couple of days -- that's devastating," one man said.
"We just need to have faith and roll with the punches and do the best we can whatever happens, but it is looking scary," one woman said.
On Wall Street, fear of high risk and heavy losses helped fuel another major sell-off. Some broad market indices have now fallen more than 20 percent since April. Unless there's a turnaround soon, analysts¹⁵ say the decline could signal the unofficial start of a bear market.

1 erase   

v.擦掉；消除某事物的痕迹

参考例句：

• He tried to erase the idea from his mind.他试图从头脑中抹掉这个想法。
• Please erase my name from the list.请把我的名字从名单上擦去。

2 volatility   

n.挥发性，挥发度，轻快，（性格）反复无常

参考例句：

• That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
• Yet because volatility remained low for so long,disaster myopia prevailed.然而，由于相当长的时间里波动性小，灾难短视就获胜了。

3 erased   

v.擦掉( erase的过去式和过去分词 )；抹去；清除

参考例句：

• He erased the wrong answer and wrote in the right one. 他擦去了错误答案，写上了正确答案。 来自《简明英汉词典》
• He removed the dogmatism from politics; he erased the party line. 他根除了政治中的教条主义，消除了政党界限。 来自《简明英汉词典》

4 bliss   

n.狂喜，福佑，天赐的福

参考例句：

• It's sheer bliss to be able to spend the day in bed.整天都可以躺在床上真是幸福。
• He's in bliss that he's won the Nobel Prize.他非常高兴，因为获得了诺贝尔奖金。

5 ammunition   

n.军火，弹药

参考例句：

• A few of the jeeps had run out of ammunition.几辆吉普车上的弹药已经用光了。
• They have expended all their ammunition.他们把弹药用光。

6 roiling   

v.搅混（液体）( roil的现在分词 )；使烦恼；使不安；使生气

参考例句：

• Now, all that could be seen was the roiling, lead--coloured sea, with its thunderously heaving waves. 狂风挟着暴雨如同弥漫大雾，排挞呼号，在海上恣意奔驶。 来自汉英文学 - 现代散文
• Rather, it is a roiling, seething cauldron of evanescent particles. 相反，它是一个不断翻滚、剧烈沸腾的大锅，内有逐渐消失的粒子。 来自互联网

7 skittish   

adj.易激动的，轻佻的

参考例句：

• She gets very skittish when her boy-friend is around.她男朋友在场时，她就显得格外轻佻。
• I won't have my son associating with skittish girls.我不准我的儿子与轻佻的女孩交往。

8 rumor   

n.谣言，谣传，传说

参考例句：

• The rumor has been traced back to a bad man.那谣言经追查是个坏人造的。
• The rumor has taken air.谣言流传开了。

9 rumors   

n.传闻( rumor的名词复数 )；[古]名誉；咕哝；[古]喧嚷v.传闻( rumor的第三人称单数 )；[古]名誉；咕哝；[古]喧嚷

参考例句：

• Rumors have it that the school was burned down. 有谣言说学校给烧掉了。 来自《简明英汉词典》
• Rumors of a revolt were afloat. 叛变的谣言四起。 来自《简明英汉词典》

10 prospects   

n.希望，前途(恒为复数)

参考例句：

• There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
• They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。

11 fraught   

adj.充满…的，伴有(危险等)的；忧虑的

参考例句：

• The coming months will be fraught with fateful decisions.未来数月将充满重大的决定。
• There's no need to look so fraught!用不着那么愁眉苦脸的！

12 peril   

n.(严重的)危险；危险的事物

参考例句：

• The refugees were in peril of death from hunger.难民有饿死的危险。
• The embankment is in great peril.河堤岌岌可危。

13 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

14 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

15 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。