VOA标准英语10月-World Markets Rally

World markets are sharply higher amid aggressive multinational¹ efforts to unfreeze credit and reverse the global financial crisis. From Washington, VOA's Michael Bowman reports.
　

A trader checks screens on London stock market movements shortly after it opened for business in London, 13 Oct 2008

U.S. markets opened with triple-digit gains, mirroring rallies in Europe and Asia. Major European markets were up between four and eight percent in afternoon trading, while Hong Kong finished with a gain of just under 10 percent.

"I have my clients calling me and telling me to buy, buy, buy [stocks]," said California-based investment manager Ken² Winans.

Last week saw most major world markets lose between 15 and 25 percent. With stocks much cheaper than they were just a few weeks ago, investors³ are sensing an opportunity for future profit, according to the chief investment strategist at U.S.-based Standard & Poor's, Sam Stovall.

"Now, when everybody is telling you how bad they feel [about the markets], chances are, we are at a bottom, and it is time to buy," Stovall said.

The markets appear buoyed⁴ by a 15-nation European initiative to rescue failing banks, guarantee bank loans, and take other steps to encourage lending. The plan, unveiled late Sunday at an emergency summit of European leaders in Paris, is expected to cost between $1 and $2 trillion, and has been hailed by officials at the International Monetary⁵ Fund and other institutions.

After weeks of turmoil⁶, the international community is working in concert to unfreeze credit markets, according to Britain's Chancellor⁷ of the Exchequer⁸, Alistair Darling.

"If we act together, if we act decisively, if we act quickly, then there is every reason to believe that we can get through this difficult period," Darling said.

The United States enacted⁹ a massive financial rescue package of its own earlier this month that allows the federal government to buy bad debt from troubled financial institutions. The man overseeing the plan, Assistant Treasury¹⁰ Secretary Neel Kashkari, says implementation¹¹ is proceeding¹² quickly.

"The law empowers Treasury to design and deploy¹³ numerous tools to attack the root cause of the current turmoil: the capital hole created by illiquid, troubled assets [bad mortgage debt]. Addressing this problem should enable our banks to begin lending again," Kashkari said. "Our nation has successfully worked through every economic challenge we have faced. And we are confident that this new program will help us overcome these challenges, as well."

A wave of U.S. home foreclosures after a prolonged period of lax lending standards is widely blamed for sparking the financial crisis. Economists¹⁴ fear the global economy could grind to a halt if banks remain unable or unwilling¹⁵ to lend money to businesses and individuals.

1 multinational   

adj.多国的，多种国籍的；n.多国籍公司，跨国公司

参考例句：

• The firm was taken over by a multinational consulting firm.这家公司被一个跨国咨询公司收购。
• He analyzed the relationship between multinational corporations and under-developed countries.他分析了跨国公司和不发达国家之间的关系。

2 ken   

n.视野，知识领域

参考例句：

• Such things are beyond my ken.我可不懂这些事。
• Abstract words are beyond the ken of children.抽象的言辞超出小孩所理解的范围.

3 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

4 buoyed   

v.使浮起( buoy的过去式和过去分词 )；支持；为…设浮标；振奋…的精神

参考例句：

• Buoyed by their win yesterday the team feel confident of further success. 在昨天胜利的鼓舞下，该队有信心再次获胜。
• His encouragement buoyed her up during that difficult period. 他的鼓励使她在那段困难时期恢复了乐观的情绪。 来自《简明英汉词典》

5 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

6 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

7 chancellor   

n.(英)大臣；法官；(德、奥)总理；大学校长

参考例句：

• They submitted their reports to the Chancellor yesterday.他们昨天向财政大臣递交了报告。
• He was regarded as the most successful Chancellor of modern times.他被认为是现代最成功的财政大臣。

8 exchequer   

n.财政部；国库

参考例句：

• In Britain the Chancellor of the Exchequer deals with taxes and government spending.英国的财政大臣负责税务和政府的开支。
• This resulted in a considerable loss to the exchequer.这使国库遭受了重大损失。

9 enacted   

制定（法律），通过（法案）( enact的过去式和过去分词 )

参考例句：

• legislation enacted by parliament 由议会通过的法律
• Outside in the little lobby another scene was begin enacted. 外面的小休息室里又是另一番景象。 来自英汉文学 - 嘉莉妹妹

10 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

11 implementation   

n.实施，贯彻

参考例句：

• Implementation of the program is now well underway.这一项目的实施现在行情看好。

12 proceeding   

n.行动，进行，(pl.)会议录，学报

参考例句：

• This train is now proceeding from Paris to London.这次列车从巴黎开往伦敦。
• The work is proceeding briskly.工作很有生气地进展着。

13 deploy   

v.（军）散开成战斗队形，布置，展开

参考例句：

• The infantry began to deploy at dawn.步兵黎明时开始进入战斗位置。
• The president said he had no intention of deploying ground troops.总统称并不打算部署地面部队。

14 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

15 unwilling   

adj.不情愿的

参考例句：

• The natives were unwilling to be bent by colonial power.土著居民不愿受殖民势力的摆布。
• His tightfisted employer was unwilling to give him a raise.他那吝啬的雇主不肯给他加薪。