Fears that unco-ordinated financial regulation could undermine the fragile economic recovery sparked a crisis of confidence among investors.

　　有關(guān)金融監(jiān)管不協(xié)調(diào)可能破壞脆弱經(jīng)濟(jì)復(fù)蘇的擔(dān)憂，引發(fā)了投資者的信心危機(jī)。

　　US, European and Asian stocks tumbled, while some eurozone government bond markets seized, prompted in part by unilateral moves by Germany to ban naked short selling and the politicised debate over the US financial regulation bill.

　　美國(guó)、歐洲和亞洲股市暴跌，同時(shí)一些歐元區(qū)國(guó)債市場(chǎng)陷入凍結(jié)，部分原因是德國(guó)單方面實(shí)施裸賣空禁令和有關(guān)美國(guó)金融監(jiān)管法案的政治化辯論。

　　A worse-than-expected report on weekly US jobless claims and Greek protests over wage cuts also sent investors scurrying for safety, away from the euro and into US Treasuries, German bonds and UK gilts.

　　美國(guó)周失業(yè)報(bào)告糟于預(yù)期，以及希臘民眾抗議減薪，也讓急于尋找安全投資的投資者遠(yuǎn)離歐元，進(jìn)入美國(guó)、德國(guó)和英國(guó)的國(guó)債市場(chǎng)。

　　David Owen, chief European financial economist at Jefferies, said: “The lack of clarity from the politicians has shattered confidence to the extent that stocks are selling off and the eurozone government bond markets are at a standstill.”

　　Jefferies首席歐洲金融經(jīng)濟(jì)學(xué)家戴維•歐文(David Owen)表示：“政治家的含糊其辭已經(jīng)打擊了投資者信心，以致股市暴跌，歐元區(qū)國(guó)債市場(chǎng)陷入停滯。”

　　Angela Merkel, Germany's chancellor, fanned the growing fear of political intervention in the markets with her comments at the opening of a high-level conference on financial market regulation in Berlin yesterday.

　　德國(guó)總理安格拉•默克爾(Angela Merkel)昨日在柏林召開的高層金融市場(chǎng)監(jiān)管會(huì)議上的講話，讓人們?cè)絹?lái)越擔(dān)心市場(chǎng)中的政治干預(yù)。

　　“We need the financial industry to be honest with us,” she said. “If we don't get honesty, then we might not do the right thing technically but we will do the right thing politically.”

　　她表示：“我們需要金融業(yè)對(duì)我們坦誠(chéng)相見(jiàn)。如果它們做不到這一點(diǎn)，那么我們可能不會(huì)實(shí)施技術(shù)上正確的舉措，而是會(huì)實(shí)施政治上正確的舉措。”

　　David Cameron, Britain's new prime minister, is expected to stress the need for international co-ordination when he meets Ms Merkel tomorrow. The unilateral ban on naked short selling was described by one British official as “crackers”.

　　預(yù)計(jì)英國(guó)新首相戴維•卡梅倫(David Cameron)明日會(huì)晤默克爾時(shí)，將會(huì)強(qiáng)調(diào)國(guó)際協(xié)同的必要性。一位英國(guó)官員將德國(guó)單方面禁止裸賣空描述為“發(fā)瘋了”。

　　The pan-European FTSE Eurofirst 300 index dipped close to eight-month lows, the FTSE 100 was just above lows of the year, while the S&P 500 and the Nikkei 225 Average dropped through the 1,100 and 10,000 marks respectively.

　　泛歐富時(shí)Eurofirst 300指數(shù)跌至近8個(gè)月低點(diǎn)，富時(shí)100指數(shù)僅略高于年內(nèi)低點(diǎn)，而標(biāo)普500指數(shù)和日經(jīng)225平均指數(shù)分別跌破1100點(diǎn)和1萬(wàn)點(diǎn)關(guān)口。

　　The sharp rise in risk aversion saw the Vix, the Wall Street “fear gauge” and best guide to market volatility, jump to 13-month highs. Market makers in eurozone government bonds said the market was no longer functioning for the weaker economies of Portugal, Spain and Greece.

　　避險(xiǎn)情緒大幅上升，推動(dòng)Vix指數(shù)上漲至13個(gè)月高點(diǎn)。Vix指數(shù)是華爾街的“恐懼指標(biāo)”，也是反映市場(chǎng)波動(dòng)的最佳指引。歐元區(qū)國(guó)債市場(chǎng)的做市商表示，葡萄牙、西班牙和希臘等歐元區(qū)較弱經(jīng)濟(jì)體的國(guó)債市場(chǎng)已不再運(yùn)轉(zhuǎn)。