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Instability remains1 on global stock markets despite better-than-expected jobs figures in the United States. The US economy generated 117,000 jobs last month, cutting the unemployment rate to 9.1 percent. The data caused US and European markets to rally but only briefly2. US markets ended the day mixed. And European markets recorded their biggest weekly fall in almost three years. Analysts3 say it would have been worse had there not been for the strong US jobs figures.
Checking the latest markets, in the US, the Dow Jones finished up by 0.5 per cent. The key indexes on the London and Frankfurt exchanges both closed about 2.7 per cent lower.Foreign market losses dragged down local stocks on Friday. More than $50 billion was wiped from the share market, and traders are warning of further losses to come. Mining stocks led the declines. BHP Billiton slumped4 almost 5 per cent. Elsewhere in the region, Asian stocks have seen heavy losses. Japan's Nikkei has lost around 3.5 per cent. And the Aussie dollar is buying around 104.6 US cents.
The Reserve Bank has highlighted the global economic uncertainty5 as one of its biggest worries. The RBA's quarterly statement on monetary6 policy warns that the debt problems in Europe and the US are a threat to domestic growth. Its other major concern is rising inflation and is expected to edge outside its target band this year.
1 remains | |
n.剩余物,残留物;遗体,遗迹 | |
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2 briefly | |
adv.简单地,简短地 | |
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3 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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4 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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5 uncertainty | |
n.易变,靠不住,不确知,不确定的事物 | |
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6 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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