旺旺首页 > 英语 > VOA美国之音 > 标准英语 > 2008 > October > Closely-Watched US Stock Market Index Slumps to Five-Year Low
更新时间:2008/10/23
 » Download Audio

By Barry Wood
Washington
22 October 2008

It was another down day on Wall Street Wednesday as the Dow Jones Industrials lost 514 points amid growing worries of world recession. VOA's Barry Wood has more.

Wall Street stock trader, 22 Oct 2008
Wall Street stock trader, 22 Oct 2008
In addition to the Dow Industrials being down, the broader Standard and Poor's index of 500 stocks fell six percent to 897. That is the lowest close in the S & P since April 2003. The slump in equity prices was global as the market index in London was off 4.5 percent and Tokyo was down nearly seven percent.

In Latin America markets were unsettled by a move by Argentina's government to nationalize the privately run pension funds. The Buenos Aires stock index was off ten percent, while Chile's index fell six percent and Brazil's ten percent.

The weakness in the U.S. economy was reflected in a 70 percent jump in home foreclosures in the third quarter. Data from RealtyTrac says three quarters of a million homes received foreclosure notices in the July to September period. About three million homes are expected to be in foreclosure this year.

Mark Zandi, chief economist at Moody's economy.com, says the deepening U.S. recession already is impacting 28 of the 50 US states, making it problematic for workers to move from a depressed area to one where conditions are better. "People can't move. They don't know where to go. In the last recession California got creamed and everybody moved to Las Vegas (Nevada) or Phoenix (Arizona) or Seattle (Washington). But in this recession it's not clear where you would go, except maybe to Texas (which is doing better)"

Oil was down again Wednesday, falling $5 to under $67 a barrel. Oil has fallen by 50 percent in just three months. Gold lost $35 to $733 an ounce. The dollar continued to rally and closed at $1.28 against the euro while the British pound fell to a five-year low of $1.63.

相关主题链接:
Sydney Weapons Summit Warns of Growing Nuclear Threat
Court Rules Bali Bombers Can Be Executed by Firing Squad
India, Pakistan Open Trade Route in Kashmir
Thai Court Sentences Thaksin to 2 Years in Jail
Sarkozy Proposes Series of Summits on Financial Crisis
Aid Workers in Kabul Alerted to Security Threats
Rice Warns Against Foreign Aid Cuts, Protectionism
Georgia - At Crossroads Throughout History
Barack Obama Breaks Fundraising Records
Bush Reaffirms US Commitment to Global Development
Analysts: Democrats Expected to Gain Senate Seats in November Elections
UN Urges Governments to Prepare for Possible Influenza Pandemic