短线观点：全球股市将继续下跌_时事

短线观点：全球股市将继续下跌

Global equities are experiencing their worst two-day spell of trading this summer, heightening the prospect of more central bank action.

过去两天全球股市经历了今夏以来最糟糕的两个交易日，凸显各央行加强干预的可能性。

Negative short-dated bond yields in the core eurozone and new lows for US Treasury benchmarks yesterday were a warning that prices for equities are poised for larger declines, particularly given that August, a month renowned for poor liquidity, is on the doorstep.

欧元区核心国家短期债券收益率转负，美国国债基准收益率昨日创下新低，这预示着股市将出现更大规模的衰退，特别是在接近以流动性吃紧而著称的8月的时候。

Beyond the bad headlines from the eurozone, investors have plenty more to worry about than the possible break-up of the single currency or failure of regional banks. Slower growth in emerging market economies is adding to the evidence that corporate profit growth is at its most vulnerable juncture since the financial crisis.

除了来自欧元区的坏消息，投资者在欧元区解体或地方性银行倒闭之外还有很多需要担心的问题。新兴市场经济体增长放缓，进一步证明企业利润增长正处在自金融危机以来最脆弱的关口。

While there was some paring of the initial sharp declines in equity and commodity prices yesterday, as short-selling bans were introduced in Italy and Spain, there is no mistaking the bearish tone.