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No.342 SIM音読用英文

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World Financial Markets Sharply Lower
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For weeks, the Greek debt crisis has taxed investor optimism

while sapping strength from the Euro.


The global downward market trend accelerated Thursday

with two economic reports

that cast doubt

on the sustained vitality

of the U.S. economic recovery.


First, the Labor Department reported a spike

in the number of Americans filing for jobless benefits.


The number of newly laid off workers jumped unexpectedly

to 471,000 last week,

25,000 more than the previous week.


Economists have long assumed

that job creation would lag behind overall improvement

of economic conditions in the United States.


But another report has cast doubt

on the second part of that assumption.


After rising steadily for more than a year,

the index of leading economic indicators actually slipped

by 0.1 percent in April,

according to a private research group.


Six of 10 components of the index deteriorated,

including new home permit applications, jobless claims,

and factory materials deliveries.


The onslaught of worrisome news is creating an investor climate

similar to a brief panic

that erupted on May 6,

when the Dow Jones Industrial Average plunged          

by 1,000 points

before bouncing back later in the day.


The events of May 6 triggered an investigation

as to whether the feverish sell-off

stemmed from a computer glitch

or market manipulation.


But not everyone is panicked.


Charles Bobrinskoy of Chicago-based Ariel Investments.


"We remain cautiously optimistic

about the U.S. economy.


Uh, in fact the manufacturers

who are filling inventory levels

are telling us

that inventories were at unsustainably low levels,

and so business is better.


I think this is right now a case

of fear getting ahead of reality."


Markets in Paris and Frankfurt closed

down more than 2 percent.


London and Tokyo lost just over 1.5 percent on the day.


Wall Street's Dow Jones Industrial Average was down

more than 3 percent

in mid-day trading.


Michael Bowman, VOA News, Washington
by danueno | 2010-05-26 10:12 | SIM音読用英文


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