美股近期四次【熔断】，是时候学习这个词了

Hello again and welcome back to buzzord mix。欢迎回到我们的迷你双语板块，新词特影，短短三分钟，让不同段位的你掌握最新最地道的英文谈资。In today's buzzword mix our buzzword is circuit breaker。在过去的一个月里，你肯定也听到过好几次这个词。So let's take a look at the original meaning first,Circuit breaker本意是断路器。

主要的功能呢，就是在短路和严重超载的情况下切断电路，从而有效地保护回路中的电器。它的这种功能也就是我们平时俗称的跳闸。But in stock market circuit breaker has another meaning在股市里。circuit breaker就是我们前一个月经常听到的熔断机制To understand how circuit break her works in u stock market.First of all we need to know three major u s stock indices.要了解美股熔断机制，首先让我们来看看作为金融市场风向标的三大美股股指，S and p five hundred index标准普洱500指数These major stock indices they help investors compare current price levels with past prices to calculate market performance.And circuit breaker points they represent the threshold hold,At which trading is past market wide,For single day declines in the s mp five hundred index.而所谓的熔断机制，简单来说，就是在标准普尔五百指数同一个交易日内下降超过一定的百分比。为了控制市场恐慌而设置的可以暂停交易的这样的一个机制。

to be more sific,They are three levels of circuit breakers tied to how steeply the market they declines.那根据股市的下行幅度，美股市场里是设了三级市场熔断Level one market white circuit breaker is tripped,If the scent p five hundred falls seven percent,From its previous closing price股市的开盘和收盘价叫做opening and closing price.如果标准普洱500指数在同一个交易日内比前一个收盘价下滑达到7%，And level two circuit breaker is triggered when the market plunges thirteen percent下滑13%。则触动二级市场熔断。And level three circuit breaker kicks in if the market drops twenty percent.三级市场垄断则要达到20%的下滑。But what happens when these circuit brickers are triggered,Well for level one and level two they will halt trading means to post trading for a minimum of fifteen minutes会暂停交易十五分钟。And level three circuit breaker will halt trading for the remainder of the trading day.

而三级市场熔断一旦触发，则会完全暂停整个交易日的交易。This circuit breaker mechanism was put into place following the black monday in nineteen eighty seven。它的起因呢，在于1987年美国股市经历的黑色星期一during that sudden and severe stock market crash the dow jones fell twenty two point six percent当时。道琼斯指数是在一个交易日内下滑了超过二十二个百分点which was the largest.One day percentage drop in dal jones's history,So following that incident they put in the circuit breaker or trading curb on the new york stock exchange.黑色星期一之后就在纽交所设定了这样的熔断机制，circuit brokeer or trading curb,Circuit breakers are intended to curb panic selling主要是用来避免恐慌性的抛售。

It's kind of like calling a time out in sports,A temporary pause in trading allows market participants to catch their breath.这好像在体育赛事里面，教练较暂停，这样让参与交易的投资者们能够稍微有一个喘息的空间。Though it doesn't necessarily keep stocks from declining once trading resumes.但即使有这种熔断机制，在熔断期结束之后，股市仍然有下行的可能。This is a very complex matter but these are the basics.Now let's move on to sample sentences,Sample one the sm p five hundred plunged by seven percent.Triggering a circuit breaker that halt it o trading for fifteen minutes.The snmp five hundred plunged by seven percent triggering a circuit breaker that halt it all trading for fifteen minutes.

Sample two the circuit breakers have given traders a chance to catch up.As mark is tumble on the growing covit nineteen pandemic,The circuit breakers have given traitorrs a chance to catch up as mark is tumble on the growing covit nineteen pandemic.今天的内容有点难，你听懂了吗？赶快关注璐璐的英文小酒馆来获取更多拓展内容。如果你喜欢新词特饮这个节目，不要忘了关注主播，来听听我们其他的精彩专辑。so are you an investor in stock markets,期待你的分享，我们下期见