Global Markets Continue Downward Spiral
美国经济继续恶化 股市下挫
World markets slumped Tuesday amid persistent worries of a deepening global recession. U.S. shares were lower in Tuesday's trading despite new government-led efforts to stem home foreclosures as well as discussion of ways to assist the troubled American automotive sector. The Dow Jones Industrial Average fell two percent (179 points) to end at 8,692. The S&P 500 was down 2.2 percent (20 points) to finish at 899 and the NASDAQ dropped 2.2 percent (36 points) to 1,581.
世界市场星期二大幅度下滑。人们对全球经济衰退加深的忧虑进一步加重。虽然政府推出了新的方案，遏制失赎房屋数量增长的势头，而且还在研究帮助美国汽车业走出困境的办法，但是美国股市在下午的交易中还是大幅下跌。
Many economists cite a rash of U.S. home foreclosures as the root cause of tight credit that has strangled economic growth in the United States and leading industrialized nations around the world. But despite a federal economic stimulus package and a massive financial rescue package, U.S. home foreclosures continue unabated amid an economic downturn that appears to be worsening.
许多经济学家认为，房主丧失抵押住房赎回权的案子大量增加是造成美国信贷紧缩的根源。信贷问题干扰了美国以及世界其它主要工业化国家的经济增长。但是，在联邦政府采取了经济刺激方案并实施了大规模的金融纾困计划之后，美国丧失赎回权的房屋数量还是有增无减。经济下行势头看来正在恶化。
In addition to homeowners who have defaulted on their mortgages, hundreds of thousands of Americans are behind in their mortgage payments and are in danger of foreclosure.
除了那些无力偿还贷款的房主以外，还有成千上万的美国人不能够每月按时交付贷款本息，面临银行收回房屋的危险。
The Federal Housing Administration, or FHA, is streamlining the process under which two mortgage giants can modify delinquent loans to give borrowers more favorable terms in hopes of avoiding default. The agency took control of those mortgage firms, Fannie Mae and Freddie Mac, earlier this year.
美国联邦住房管理部门决定简化程序，让房利美和房地美这两大房贷融资公司修改违约贷款的条款，给借贷者提供更好的条件，避免房屋被收回。美国联邦住宅信贷署在今年早些时候接管了两房。
"Foreclosures have increased almost 150 percent over the last two years," said FHA Chairman, James Lockhart. "Foreclosures hurt families, their neighbors, whole communities, and the overall housing market."
联邦住宅信贷署署长詹姆斯.洛克哈特说：“被收回的房屋数量两年来已经增加了几乎150%。这个问题给家庭、住宅区、整个社区、甚至整个住房市场都造成了伤害。”
"We need to stop this downward spiral. Today, we are announcing a major program designed to greatly reduce preventable foreclosures with a simplified, streamlined loan modification program to get struggling homeowners into mortgages that they can afford," he added.
“我们需要遏制住这种螺旋下滑的势头。今天，我们宣布要推出一个重大计划，通过简化贷款条款修改程序来防止房主失去自己的住房，让遇到困难的房主能够承担起抵押贷款。”
Tuesday saw more U.S. companies announce disappointing earnings and layoffs. On Monday, German-based shipper DHL announced a reduction in U.S. operations and a cut of about 9,500 American jobs. More than a million jobs have been lost in the United States during the last year, pushing the unemployment rate up a full point in the same time period.
星期二，更多的美国公司宣布了令人失望的盈利报告和裁员。星期一，位于德国的敦豪快运宣布裁减在美国的运作规模以及削减9千5百个美国工作。在过去一年的时间里，美国损失了一百多万个就业机会。
Among the sectors shedding jobs is the U.S. automobile industry. Congress has already approved $25 billion in low-interest loans to America's top-three carmakers to help them retool production and make more fuel-efficient vehicles. Aides close to President-elect Barack Obama are among those who say the industry needs another $25 billion in government aid to stave off bankruptcy.
美国的汽车工业是工作遭到削减的行业之一。美国国会已经批准向美国三大汽车制造商提供250亿美元的低息贷款，帮助他们更新生产能力，生产更省油的汽车。包括当选总统奥巴马的助手在内的一些人说，美国的汽车生产商还需要250亿的政府援助才能避免倒闭。
Analyst Peter Brown of the trade magazine Automotive News says the situation is dire for General Motors and other U.S. carmakers.
汽车新闻杂志的分析师布朗说，通用汽车公司以及其他的美国汽车生产商所面临的处境极为艰难。
"Right now the choices are pretty stark: bailout or failure," he said. "If GM [General Motors] fails, [then] all kinds of suppliers fail. The other two Detroit automakers would soon fail. There would be a large collapse of a very important part of the economy."
他说：“现在他们面临的选择非常分明：要么获得救助，要么倒闭。如果通用汽车公司倒闭，那么各种各样的供应商也会倒闭。另外两家底特律的汽车生产商很快也会倒闭。美国经济中很重要的一部分将会出现大崩溃。”
Carmakers are the largest component of America's dwindling manufacturing base.
汽车制造商是美国日益缩小的制造业中的最大组成部分。
President-elect Obama is reported to have pushed for a quick infusion of government cash for automobile makers when he met with President Bush at the White House on Monday.
当选总统奥巴马据信星期一在白宫与布什总统会晤时敦促政府给汽车制造商迅速注入现金。
For its part, the Bush administration has urged Congress to ratify a free trade pact between the United States and Colombia as a means to boost economic activity for both nations. So far, Congress has refused to consider the accord. The White House denied any attempt by Mr. Bush to link aid for carmakers to passage of the free trade deal.
而布什政府则敦促国会批准美国与哥伦比亚达成的自由贸易协议，作为推动两国经济活动的途径。到目前为止，国会拒绝考虑这个贸易协议。白宫否认布什总统试图把对汽车制造商提供援助与国会对这个自由贸易协定的批准联系在一起。
The near-constant drumbeat of negative economic news continues to punish stock markets. Shares in Tokyo fell by three percent, while Hong Kong saw a plunge of nearly five percent. Major European markets were down between three and six percent.
连续不断的负面经济消息继续打压全球股市。纽约股市星期二暴跌2%。东京股市下跌了3%，香港股市的跌幅接近5%。欧洲各大股市的跌幅在3%到6%之间。
