全球股市在一夜之间加速暴跌。表面原因是美国经济似乎即将陷入衰退，而美联储不愿开始降息更是加速了这一进程，根本问题则要大得多。美联储面临着巨大的降息压力，需要降息来刺激摇摇欲坠的经济，并减轻债务负担的压力。另一方面，美联储认为通胀压力仍然存在。美联储将于下个月开始降息，但如果降息太快，通胀将会卷土重来。美联储陷入了进退维谷的境地。日本日经指数周一暴跌，当日下跌 12.4%，而日元则上涨至 141.68。欧洲和美国股市紧随其后，股市一片混乱，跌幅飙升。欧元一度飙升至 1.1000 上方，而英镑则跌至 1.2710。
市场目前一片混乱，增加不确定性。商品货币暴跌，澳元回落至 0.6360，然后在交易后期回升。新西兰元也遭受重创，纽元回落至 0.5870，然后回升至 0.5900 以上。股市的恐惧和恐慌具有传染性，尤其是在存在诸多经济不确定性的情况下。
The rout on global equity markets gathered pace overnight. The underlying cause is the apparent looming fall into recession of the US economy, accelerated by the Fed’s reluctance to begin the ease interest rates. The underlying problems are far greater. There is enormous pressure on the Fed to cut rates to stimulate a faltering economy and to ease pressure on the burden of debt serviceability. On the flipside, the Fed sees persistent and underlying inflationary pressures remaining. The Fed will begin to cut next month, but if it is too soon, inflation will come roaring back. The Fed is caught between a rock and a hard place. The Japanese Nikkei Index collapsed on Monday’s trade, falling 12.4% on the day, while the Yen rallied to 141.68. The European and US markets followed, with mayhem of stock markets, as losses skyrocketed. The EUR spiked upwards to trade above 1.1000, at one stage, while the GBP fell to 1.2710.
Markets are in disarray and this will only increase uncertainty. The commodity currencies tumbled, with the AUD falling back to 0.6360, before recovering late in the session. The NZD also suffered a buffeting, with the KIWI falling back to 0.5870, before recovering back above 0.5900. Fear and panic on equity markets becomes contagious, particularly when there is underlying economic uncertainty.
市场目前一片混乱，增加不确定性。商品货币暴跌，澳元回落至 0.6360，然后在交易后期回升。新西兰元也遭受重创，纽元回落至 0.5870，然后回升至 0.5900 以上。股市的恐惧和恐慌具有传染性，尤其是在存在诸多经济不确定性的情况下。
The rout on global equity markets gathered pace overnight. The underlying cause is the apparent looming fall into recession of the US economy, accelerated by the Fed’s reluctance to begin the ease interest rates. The underlying problems are far greater. There is enormous pressure on the Fed to cut rates to stimulate a faltering economy and to ease pressure on the burden of debt serviceability. On the flipside, the Fed sees persistent and underlying inflationary pressures remaining. The Fed will begin to cut next month, but if it is too soon, inflation will come roaring back. The Fed is caught between a rock and a hard place. The Japanese Nikkei Index collapsed on Monday’s trade, falling 12.4% on the day, while the Yen rallied to 141.68. The European and US markets followed, with mayhem of stock markets, as losses skyrocketed. The EUR spiked upwards to trade above 1.1000, at one stage, while the GBP fell to 1.2710.
Markets are in disarray and this will only increase uncertainty. The commodity currencies tumbled, with the AUD falling back to 0.6360, before recovering late in the session. The NZD also suffered a buffeting, with the KIWI falling back to 0.5870, before recovering back above 0.5900. Fear and panic on equity markets becomes contagious, particularly when there is underlying economic uncertainty.
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