美朝对峙不断升级导致美股大跌

The US stock market on Thursday suffered its steepest decline in three months and Wall Street’s “fear gauge” jumped to its highest level since the US election, after President Donald Trump warned that North Korea should be “very, very nervous”.

周四，美国股市遭遇三个月来最大跌幅，华尔街的“恐慌指数”也跃升至去年美国大选以来最高水平。此前美国总统唐纳德•特朗普(Donald Trump)警告朝鲜应该要“非常、非常紧张”。

Financial markets have been deep in the summer doldrums, pushing volatility measures down to fresh multiyear lows, but the escalating sabre-rattling between North Korea and the US has triggered jitters.

金融市场深陷夏季低潮，不断推动波动率指数降至多年新低，但朝鲜和美国之间不断升级的武力叫嚣引发了恐慌情绪。

The S&P 500 index slid 1.5 per cent — its biggest one-day drop since the last flash of turbulence on May 17 — with the weakness exacerbated by a bellicose press conference by Mr Trump. Earlier this week the president threatened North Korea with “fire and fury” and on Thursday at his Bedminster, New Jersey golf club he said that his warning had not been tough enough.

由于特朗普好战的新闻发布会导致市场加剧疲软，标普500指数(S&P 500)下跌1.5%，这是该指数自5月17日上一次动荡以来出现的最大单日跌幅。本周早些时候特朗普威胁要让朝鲜遭遇“火与怒”，周四他在自己位于新泽西州的Bedminster高尔夫俱乐部表示，他的警告还不够强硬。

“I will tell you this, if North Korea does anything in terms of even thinking about attack — of anybody that we love or we represent, or our allies or us, they can be very, very nervous,” he said. “. . . because things will happen to them like they never thought possible.”

他说：“我要告诉你们，如果朝鲜的任何举动，竟敢考虑袭击我们所爱的任何人，或我们所代表的任何人，或我们的盟友，或我们自己，他们会非常、非常紧张……因为他们会遭遇他们从未想到可能会发生的事情。”

The hawkish comments deepened Wall Street’s nervousness, and helped lift the Vix index — a gauge of expected volatility that doubles as a measure of investor fear — to 16 per cent, its highest level since the November election. The 10-year Treasury yield dipped another 4 basis points to a two-month low of 2.2 per cent as fund managers sought out the safety of US government debt.

这一强硬言论加深了华尔街的紧张，助推波动率指数(Vix index)——该指标衡量预期波动率，兼做投资者恐慌指数——升至16%，达到去年11月大选以来最高水平。由于基金经理进入国债市场寻求避险，10年期国债收益率再下跌4个基点至两个月来的低点2.2%。

“It is not a perfect storm just yet but a lot of things are building in that direction and the market is getting ready for a healthy correction,” said Andrew Brenner, head of international fixed income at National Alliance.

National Alliance Capital Markets国际固定收益主管安德鲁•布伦纳(Andrew Brenner)表示：“这还不是一场完美风暴，但很多事情正朝着这个方向发展，而且市场已准备好迎接一次健康的调整。”

“You have the North Korean situation [and] you are heading into the weekend . . . People are fearful of equity markets, so you could have another down move. Once you get this momentum moving, it could feed on itself.”

“现在要考虑朝鲜局势，而且马上要进入周末……人们很担心股市，所以市场可能会再次下跌。一旦市场走向这一势头，它就可以自行运转。”

Mr Brenner added that investors, who had previously trained their attention on inflation data due at the end of the week, were now focused on how stocks open on Friday morning.

布伦纳还表示，那些先前在上周末学会注意通胀数据的投资者，现在开始关注周五上午开盘走势。

“It is a reaction to sabre-rattling,” said JJ Kinahan, chief market strategist at TD Ameritrade. One thing that “caught his eye” in terms of the North Korea flare-up leading to more selling was the drop in the Nasdaq Composite below its 50-day moving average, a popular technical signal.

TD Ameritrade的首席策略师JJ•基纳汉(JJ Kinahan)表示：“这是对武力叫嚣的反应。”因朝鲜问题加剧导致更多卖出所“引起他注意”的一件事是，纳斯达克综合指数(Nasdaq Composite)跌至50天移动均线——一个流行的技术信号——以下。