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2021-08-20
Is this considered as a dip or correction?
The Stock Market Is Dropping Again. What’s Behind Its Worst Slump Since July.<blockquote>股市又下跌了。7 月份以来最严重的低迷背后是什么?</blockquote>
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What’s Behind Its Worst Slump Since July.<blockquote>股市又下跌了。7 月份以来最严重的低迷背后是什么?</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169769842","media":"Barron's","summary":"The S&P 500 is on pace for its worst three-day drop since July. Is the sky starting to fall?\nIt sure","content":"<p>The <a href=\"https://laohu8.com/S/.SPX\">S&P 500</a> is on pace for its worst three-day drop since July. Is the sky starting to fall?</p><p><blockquote>这个<a href=\"https://laohu8.com/S/.SPX\">标普500</a>有望创下 7 月份以来最严重的三天跌幅。天开始塌下来了吗?</blockquote></p><p> It sure does look ugly out there. S&P 500 futures have declined 0.6% Thursday morning, indicating an opening loss of around 28 points, or 0.6%, for the index. The Dow Jones Industrial Average (<a href=\"https://laohu8.com/S/.DJI\">DJIA</a>), meanwhile, could be headed for a 237 point, or 0.7%, decline, per futures markets.</p><p><blockquote>外面看起来确实很难看。标普500期货周四上午下跌 0.6%,表明该指数开盘下跌约 28 点,跌幅为 0.6%。道琼斯工业平均指数(<a href=\"https://laohu8.com/S/.DJI\">道琼斯</a>与此同时,根据期货市场的数据,该指数可能会下跌 237 点,即 0.7%。</blockquote></p><p> If the losses hold, it would be the S&P 500’s third consecutive drop, the index’s longest losing streak since the three-day losing streak that ended on July 19. At this pace, the index would shed around 2.4% over a three-day period, also the worst since that July tumble.</p><p><blockquote>如果跌势持续下去,这将是标普500指数连续第三次下跌,也是该指数自 7 月 19 日结束的三日连跌以来最长的连跌。按照这个速度,该指数将在三天内下跌约 2.4%,这也是自 7 月份暴跌以来最严重的一次。</blockquote></p><p> If you want reasons for the decline, well, there are plenty. Taper fears are at the top of the list, despite the fact that the Fed has been about as transparent about the fact that it will end its bond-buying program soon as it’s possible to be. (Can a big article in The Wall Street Journal with the headline “Fed Officials Weigh Ending Asset Purchases by Mid-2022” be any more obvious?)</p><p><blockquote>如果你想知道下降的原因,嗯,有很多。尽管美联储一直尽可能透明地表示将尽快结束债券购买计划,但对缩减规模的担忧仍然位居榜首。(《华尔街日报》上一篇题为 “美联储官员考虑在 2022 年年中结束资产购买 ”的大文章还能再明显不过了吗?)</blockquote></p><p> But history shows that markets react to changes in monetary policy—even when they know the change is coming, says Bleakley Advisory Group’s Peter Boockvar. “[We] have to be reminded of how stocks responded to EVERY SINGLE change in Fed policy towards tightening since 2010,” he writes. “Outside of the August 2015 selloff related to the Chinese yuan modest devaluation and the Covid induced crash, every notable correction in stocks surrounded a change Fed policy toward tightening.”</p><p><blockquote>但历史表明,市场会对货币政策的变化做出反应--即使他们知道变化即将到来,Bleakley Advisory Group 的彼得-布克瓦尔(Peter Boockvar)说。“他写道:”(我们)必须记住,自 2010 年以来,股市是如何应对美联储紧缩政策的每一次变化的。“除了 2015 年 8 月与人民币小幅贬值和 Covid 引发的崩盘有关的抛售外,股市的每一次明显调整都围绕着美联储紧缩政策的转变。”</blockquote></p><p> Covid concerns continue to rise, whether its cases forcing shutdowns in <a href=\"https://laohu8.com/S/NGD\">New</a> Zealand or reports that the vaccines aren’t as effective against the Delta variant as originally thought. Again, none of this is terribly new, but then again, the market chooses when it wants to react, not folks with a keyboard.</p><p><blockquote>新冠疫情的担忧持续上升,无论其病例是否迫使关闭<a href=\"https://laohu8.com/S/NGD\">新的</a>Zealand or 报告称,疫苗对德尔塔变异毒株的效果并不像最初认为的那样好。同样,这些都不是什么新鲜事,但话说回来,市场会选择什么时候做出反应,而不是拿着键盘的人。</blockquote></p><p> If you listen to the thrum of the Street, though, you get the sense that the market has been due for a correction. There’s some truth to that. The S&P 500 has been more than 8% above its 200-day moving average for 198 days, the longest in 40 years and among the five longest stretches in history. These streaks are usually followed by a couple of months of choppy trading, with a median gain of just 0.3% over the following two months. “By the time it reached the current length, other super-strong trends saw buyers take a break,” writes Sundial Capital Research’s Jason Goepfert.</p><p><blockquote>然而,如果你听听街头的喧嚣,你会感觉到市场已经到了回调的地步。这话有一定道理。标普500已连续 198 天比 200 天移动平均线高出 8% 以上,是 40 年来最长的,也是历史上最长的五个时期之一。这些连胜之后通常会经历几个月的波动交易,接下来两个月的中位数涨幅仅为 0.3%。“Sundial Capital Research 的 Jason Goepfert 写道:”当它达到目前的长度时,其他超级强劲的趋势让买家休息了一段时间。</blockquote></p><p> Of course, it might just be August, says DataTrek’s Nicholas Colas. He notes that the S&P 500 typically has one 1% up or down move every week since 1957, but has had just three during the first seven weeks of the third quarter. August, because of its low volume and history of higher volatility would be a good time to catch up.</p><p><blockquote>DataTrek 的尼古拉斯-科拉斯(Nicholas Colas)说,当然,现在可能只是八月。他指出,自 1957 年以来,标普500通常每周都会上涨或下跌 1%,但在第三季度的前七周只有三次。8 月份,由于交易量较低且历史上波动性较高,因此是追赶的好时机。</blockquote></p><p> That’s especially true with stocks starting to move together again. “[As] much as we like U.S. equities, we have to respect both the tape (suddenly higher correlations) and seasonality (late August volatility),” Colas writes. “Both tell us to be cautious over the next 2-3 weeks.”</p><p><blockquote>尤其是在股市再次开始集体波动的情况下。“科拉斯写道:”尽管我们非常喜欢美国股市,但我们必须尊重连续性(相关性突然上升)和季节性(8 月下旬的波动)。“两人都告诉我们,在接下来的 2-3 周内要谨慎”。</blockquote></p><p> So buckle up. Whatever the reason, it’s chop time for U.S. stock markets.</p><p><blockquote>所以系好安全带。无论出于何种原因,现在是美国股市下跌的时候了。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Stock Market Is Dropping Again. What’s Behind Its Worst Slump Since July.<blockquote>股市又下跌了。7 月份以来最严重的低迷背后是什么?</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Stock Market Is Dropping Again. What’s Behind Its Worst Slump Since July.<blockquote>股市又下跌了。7 月份以来最严重的低迷背后是什么?</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-08-20 16:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The <a href=\"https://laohu8.com/S/.SPX\">S&P 500</a> is on pace for its worst three-day drop since July. Is the sky starting to fall?</p><p><blockquote>这个<a href=\"https://laohu8.com/S/.SPX\">标普500</a>有望创下 7 月份以来最严重的三天跌幅。天开始塌下来了吗?</blockquote></p><p> It sure does look ugly out there. S&P 500 futures have declined 0.6% Thursday morning, indicating an opening loss of around 28 points, or 0.6%, for the index. The Dow Jones Industrial Average (<a href=\"https://laohu8.com/S/.DJI\">DJIA</a>), meanwhile, could be headed for a 237 point, or 0.7%, decline, per futures markets.</p><p><blockquote>外面看起来确实很难看。标普500期货周四上午下跌 0.6%,表明该指数开盘下跌约 28 点,跌幅为 0.6%。道琼斯工业平均指数(<a href=\"https://laohu8.com/S/.DJI\">道琼斯</a>与此同时,根据期货市场的数据,该指数可能会下跌 237 点,即 0.7%。</blockquote></p><p> If the losses hold, it would be the S&P 500’s third consecutive drop, the index’s longest losing streak since the three-day losing streak that ended on July 19. At this pace, the index would shed around 2.4% over a three-day period, also the worst since that July tumble.</p><p><blockquote>如果跌势持续下去,这将是标普500指数连续第三次下跌,也是该指数自 7 月 19 日结束的三日连跌以来最长的连跌。按照这个速度,该指数将在三天内下跌约 2.4%,这也是自 7 月份暴跌以来最严重的一次。</blockquote></p><p> If you want reasons for the decline, well, there are plenty. Taper fears are at the top of the list, despite the fact that the Fed has been about as transparent about the fact that it will end its bond-buying program soon as it’s possible to be. (Can a big article in The Wall Street Journal with the headline “Fed Officials Weigh Ending Asset Purchases by Mid-2022” be any more obvious?)</p><p><blockquote>如果你想知道下降的原因,嗯,有很多。尽管美联储一直尽可能透明地表示将尽快结束债券购买计划,但对缩减规模的担忧仍然位居榜首。(《华尔街日报》上一篇题为 “美联储官员考虑在 2022 年年中结束资产购买 ”的大文章还能再明显不过了吗?)</blockquote></p><p> But history shows that markets react to changes in monetary policy—even when they know the change is coming, says Bleakley Advisory Group’s Peter Boockvar. “[We] have to be reminded of how stocks responded to EVERY SINGLE change in Fed policy towards tightening since 2010,” he writes. “Outside of the August 2015 selloff related to the Chinese yuan modest devaluation and the Covid induced crash, every notable correction in stocks surrounded a change Fed policy toward tightening.”</p><p><blockquote>但历史表明,市场会对货币政策的变化做出反应--即使他们知道变化即将到来,Bleakley Advisory Group 的彼得-布克瓦尔(Peter Boockvar)说。“他写道:”(我们)必须记住,自 2010 年以来,股市是如何应对美联储紧缩政策的每一次变化的。“除了 2015 年 8 月与人民币小幅贬值和 Covid 引发的崩盘有关的抛售外,股市的每一次明显调整都围绕着美联储紧缩政策的转变。”</blockquote></p><p> Covid concerns continue to rise, whether its cases forcing shutdowns in <a href=\"https://laohu8.com/S/NGD\">New</a> Zealand or reports that the vaccines aren’t as effective against the Delta variant as originally thought. Again, none of this is terribly new, but then again, the market chooses when it wants to react, not folks with a keyboard.</p><p><blockquote>新冠疫情的担忧持续上升,无论其病例是否迫使关闭<a href=\"https://laohu8.com/S/NGD\">新的</a>Zealand or 报告称,疫苗对德尔塔变异毒株的效果并不像最初认为的那样好。同样,这些都不是什么新鲜事,但话说回来,市场会选择什么时候做出反应,而不是拿着键盘的人。</blockquote></p><p> If you listen to the thrum of the Street, though, you get the sense that the market has been due for a correction. There’s some truth to that. The S&P 500 has been more than 8% above its 200-day moving average for 198 days, the longest in 40 years and among the five longest stretches in history. These streaks are usually followed by a couple of months of choppy trading, with a median gain of just 0.3% over the following two months. “By the time it reached the current length, other super-strong trends saw buyers take a break,” writes Sundial Capital Research’s Jason Goepfert.</p><p><blockquote>然而,如果你听听街头的喧嚣,你会感觉到市场已经到了回调的地步。这话有一定道理。标普500已连续 198 天比 200 天移动平均线高出 8% 以上,是 40 年来最长的,也是历史上最长的五个时期之一。这些连胜之后通常会经历几个月的波动交易,接下来两个月的中位数涨幅仅为 0.3%。“Sundial Capital Research 的 Jason Goepfert 写道:”当它达到目前的长度时,其他超级强劲的趋势让买家休息了一段时间。</blockquote></p><p> Of course, it might just be August, says DataTrek’s Nicholas Colas. He notes that the S&P 500 typically has one 1% up or down move every week since 1957, but has had just three during the first seven weeks of the third quarter. August, because of its low volume and history of higher volatility would be a good time to catch up.</p><p><blockquote>DataTrek 的尼古拉斯-科拉斯(Nicholas Colas)说,当然,现在可能只是八月。他指出,自 1957 年以来,标普500通常每周都会上涨或下跌 1%,但在第三季度的前七周只有三次。8 月份,由于交易量较低且历史上波动性较高,因此是追赶的好时机。</blockquote></p><p> That’s especially true with stocks starting to move together again. “[As] much as we like U.S. equities, we have to respect both the tape (suddenly higher correlations) and seasonality (late August volatility),” Colas writes. “Both tell us to be cautious over the next 2-3 weeks.”</p><p><blockquote>尤其是在股市再次开始集体波动的情况下。“科拉斯写道:”尽管我们非常喜欢美国股市,但我们必须尊重连续性(相关性突然上升)和季节性(8 月下旬的波动)。“两人都告诉我们,在接下来的 2-3 周内要谨慎”。</blockquote></p><p> So buckle up. Whatever the reason, it’s chop time for U.S. stock markets.</p><p><blockquote>所以系好安全带。无论出于何种原因,现在是美国股市下跌的时候了。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.barrons.com/articles/why-stock-market-dropping-again-today-51629372284?mod=hp_LEAD_3_B_1&tesla=y\">Barron's</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/why-stock-market-dropping-again-today-51629372284?mod=hp_LEAD_3_B_1&tesla=y","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169769842","content_text":"The S&P 500 is on pace for its worst three-day drop since July. Is the sky starting to fall?\nIt sure does look ugly out there. S&P 500 futures have declined 0.6% Thursday morning, indicating an opening loss of around 28 points, or 0.6%, for the index. The Dow Jones Industrial Average (DJIA), meanwhile, could be headed for a 237 point, or 0.7%, decline, per futures markets.\nIf the losses hold, it would be the S&P 500’s third consecutive drop, the index’s longest losing streak since the three-day losing streak that ended on July 19. At this pace, the index would shed around 2.4% over a three-day period, also the worst since that July tumble.\nIf you want reasons for the decline, well, there are plenty. Taper fears are at the top of the list, despite the fact that the Fed has been about as transparent about the fact that it will end its bond-buying program soon as it’s possible to be. (Can a big article in The Wall Street Journal with the headline “Fed Officials Weigh Ending Asset Purchases by Mid-2022” be any more obvious?)\nBut history shows that markets react to changes in monetary policy—even when they know the change is coming, says Bleakley Advisory Group’s Peter Boockvar. “[We] have to be reminded of how stocks responded to EVERY SINGLE change in Fed policy towards tightening since 2010,” he writes. “Outside of the August 2015 selloff related to the Chinese yuan modest devaluation and the Covid induced crash, every notable correction in stocks surrounded a change Fed policy toward tightening.”\nCovid concerns continue to rise, whether its cases forcing shutdowns in New Zealand or reports that the vaccines aren’t as effective against the Delta variant as originally thought. Again, none of this is terribly new, but then again, the market chooses when it wants to react, not folks with a keyboard.\nIf you listen to the thrum of the Street, though, you get the sense that the market has been due for a correction. There’s some truth to that. The S&P 500 has been more than 8% above its 200-day moving average for 198 days, the longest in 40 years and among the five longest stretches in history. These streaks are usually followed by a couple of months of choppy trading, with a median gain of just 0.3% over the following two months. “By the time it reached the current length, other super-strong trends saw buyers take a break,” writes Sundial Capital Research’s Jason Goepfert.\nOf course, it might just be August, says DataTrek’s Nicholas Colas. He notes that the S&P 500 typically has one 1% up or down move every week since 1957, but has had just three during the first seven weeks of the third quarter. August, because of its low volume and history of higher volatility would be a good time to catch up.\nThat’s especially true with stocks starting to move together again. “[As] much as we like U.S. equities, we have to respect both the tape (suddenly higher correlations) and seasonality (late August volatility),” Colas writes. “Both tell us to be cautious over the next 2-3 weeks.”\nSo buckle up. Whatever the reason, it’s chop time for U.S. stock markets.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":809,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":35,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/836181110"}
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