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  • Market regulators are accusing a British national of almost single-handedly causing a "Flash Crash" to American stock markets in 2010.

    市場監管機構指責一名英國人幾乎一手造成了2010年美國股市的“閃電崩盤”。

  • During the incident, the Dow Jones Industrial average dropped about 6%, and lost more than $1 trillion dollars in mere minutes.

    事件發生時,道瓊斯工業平均指數下跌約6%,幾分鐘內損失超過1兆美元。

  • Fortunately, stocks rebounded relatively fast after the shock, but we wanted to know, what does it take to crash a stock market?

    幸運的是,股市在震盪後反彈的較快,但我們想知道,什麼會讓股市崩盤?

  • Well, there have been countless financial "crashes" throughout history.

    歷史上發生過無數次金融「崩盤」。

  • They even go back to the 1600s when modern stock exchanges were first evolving among the trade economies of Europe.

    它們甚至可回溯至17世紀 ,當時現代證券交易所首次在歐洲貿易經濟體中發展起來。

  • A crash represents a steep, sudden decline in the value of market prices, and they can often lead to an economic depression.

    崩盤是指股市市值急遽下跌,往往會導致經濟蕭條。

  • The most devastating crashes are usually the result of an overly-inflated market, also known as a "bubble".

    最具破壞性的的市場崩盤通常是市場過度膨脹的結果,也被稱為「泡沫」。

  • Investment bubbles occur when prices of market shares are driven upwards past their real value.

    當股價被推高至超過其實際價值,就會出現投資泡沫。

  • According to some market theorists, a bubble is encouraged by a "herd mentality" ,

    根據一些市場理論家的說法,泡沫是由一種“從眾心理”催生的,

  • where people first jump on the bandwagon of a profitable stock, and then, when the bubble bursts, they engage in panic-selling.

    即人們首先跟隨有利可圖的股票的潮流,然後當泡沫破裂時,他們進行恐慌性拋售。

  • The most famous example of this was during the 1929 American Stock Market Crash.

    最有名的例子便是1929年的美國股市崩盤。

  • Before then, post World War I America experienced an economic boom,

    在此之前,第一次世界大戰後的美國經歷了經濟繁榮,

  • optimism in the economy inspired many take on risky loans, and invest in stocks.

    對經濟的樂觀情緒激發了許多人接受高風險貸款,並投資於股票。

  • But when the economy slowed down people began to sell their shares - at first slowly, and then in droves.

    但當經濟放緩時,人們開始出售股票——起初緩慢,然後是成群結隊。

  • Market prices went into freefall, and there were no fail-safe rules to stop the inevitable crash.

    市場價格直線下降,當時並沒有防止不可避免的事故發生的安全措施。

  • Stock markets can also be "spooked" into a decline or a crash following catastrophic events.

    災難性事件發生後,股票市場也會受到驚嚇而下跌或崩盤。

  • For example, San Francisco’s massive 1906 earthquake is thought to have played an integral role in the financial panic of 1907.

    例如,1906年舊金山大地震被認為在1907年的金融恐慌中扮演了不可或缺的角色。

  • During that time, the market sank to about 50% of the previous year’s valuation.

    那時股市市值下跌至去年估值的 50% 左右。

  • Additionally, In 2001, after the September 11th terrorist attacks, the stock markets were closed for almost a week.

    此外,2001年9 / 11恐怖襲擊後,股票市場關閉了近一周。

  • In the first five days back, the markets faced a loss of about $1.4 trillion dollars.

    前五天,市場面臨約 1.4 兆美元的損失。

  • The digital era has also introduced new threats to the stock market in the form of "high frequency trading".

    數位時代也以“高頻交易”的形式給股市帶來了新的威脅。

  • HFT is when thousands of trades are carried out by computers in fractions of a second.

    高頻交易是指電腦在不到一秒的時間內完成數千筆交易。

  • The swiftness of computer programs at buying and selling puts traditional traders at a disadvantage.

    電腦程式在買賣方面的迅速性使傳統交易者處於不利地位。

  • Also, the use of HFT creates a lot of potential volatility in the stock market.

    此外,高頻交易的使用在股票市場造成了很多潛在的波動。

  • Computer programs that are designed to automatically respond to price points can trigger mass selling before anyone can notice.

    被設計成自動對價格點作出反應的電腦程式,可能會在任何人注意到之前觸發大規模拋售。

  • This contributed to the 2010 Flash Crash, after a large enough downtick in stocks caused many HFT programs to further withdraw, leading to a drastic crash.

    這導致了2010年的「閃電崩盤」,由於低價交易( downtick)大量湧現令許多「高頻交易」程式賣出股票,導致了劇烈的崩盤。

  • After that particular event, government regulators imposed new laws, called "circuit breakers",

    在這一特定事件之後,政府監管機構實施了新的法律,稱為“熔斷機制”,

  • that temporarily "pause" trading if a stock falls 10% or more within a 5-min period.

    如果股票在5分鐘內下跌10%或以上, 所有交易便暫時「停止」。

  • These safeguards give traders breathing room to reexamine their options instead of panicking and selling everything before the stock bottoms out.

    這些保障措施讓交易者有喘息的空間來重新審視他們的選擇,而不是在股市觸底前驚慌失措地拋售所有股票。

  • The Securities and Exchange Commission works hard to regulate the wild swings of the stock market.

    美國證券交易委員會努力監管股市的劇烈波動。

  • But for the modern era, stock markets remain more volatile, and susceptible to crashes than anyone might ever think.

    但就現代而言,股市仍然比任何人想像的更不穩定,更容易受到崩盤的影響。

  • Investing is a pretty risky thing to do, but sometimes big risks can have even bigger rewards.

    投資是一件相當冒險的事情,但有時大的風險可能會帶來更大的回報。

  • To learn why Africa is such a hotspot for foreign investment right now, check out our video here.

    要了解為什麼非洲現在是外國投資的熱點,請點擊這裡查看我們的視頻。

  • Don’t forget to subscribe, and thanks as always for hanging out with us here on TestTube!

    不要忘記訂閱我們的頻道,一如既往地感謝你在TestTube上與我們相聚!

Market regulators are accusing a British national of almost single-handedly causing a "Flash Crash" to American stock markets in 2010.

市場監管機構指責一名英國人幾乎一手造成了2010年美國股市的“閃電崩盤”。

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B2 中高級 中文 美國腔 股市 崩盤 交易 下跌 股價 市場

投資前先來了解什麼是股災? (What Is A Stock Market Crash?)

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    鄭小鬼 發佈於 2021 年 08 月 02 日
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