Prices on the New York stock exchange have suffered one of their biggest falls ever. In a sudden and unexpected development, the Dow-Jones Index fell by just over 140 points, or about 7%. It was the 3rd largest fall in the history of Wall Street. Most of it came in the last hour of trading. Before then, the stock exchange had been showing only minor losses. A BBC correspondent in New York says that the strong selling of American government bonds early in the day is believed to have been one reason for the fall. But he says them were other reasons. These included a belief that next week’s American trade figures would be bad and fears that interest rates would not decrease. The market was also affected by worries that the federal budget deficit would be higher than expected. Coinciding with a fall in prices on Wall Street, a presidential commission has sent a report to the White House on the stock market’s biggest ever crash on October 19 last year when the Dow-Jones In
| Passage 3 Plain and simple, stock is a share in the ownership of a company. Stock represents a claim on the company’s assets and earnings. As you acquire more stock, your ownership stake in the company becomes greater. Whether you say shares, equity, or stock, it all means the same thing. Holding a company’s stock means that you are one of the many owners (shareholders) of a company, and, as such, you have a claim (albeit usually very small) to everything the company owns. Yes, this means that technically you own a tiny sliver of every piece of furniture, every trademark, and every contract of the company. As an owner, you are entitled to your share of the company’s earnings as well as any voting rights attached to the stock. A stock is represented by a stock certificate. This is a fancy piece of paper that is proof of your 我来回答: 提交
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