EN： The preposition 'in' is used here to specify the domain or sector in which the 'sell-off' occurred. In financial contexts, 'in' often connects a market action (like a rise, fall, or sell-off) to the specific asset class or industry affected.
中文： 介係詞「in」在此處用於指定「拋售」發生的領域或板塊。在財經語境中，「in」常用於將市場行為（如上漲、下跌或拋售）與受影響的特定資產類別或產業連結起來。
We observed a sudden drop in housing prices last month.
我們上個月觀察到房價突然下跌。
EN： The simple past tense ('shook') is used to describe a completed action that occurred at a specific time in the past ('on Tuesday'). 'Shook' is the irregular past tense form of the verb 'shake'.
中文： 簡單過去式（「shook」）用於描述在過去特定時間（「週二」）已經完成的動作。「Shook」是動詞「shake」的不規則過去式變化。
The unexpected news shook the entire industry yesterday.
這則出乎意料的消息昨天震驚了整個產業。
EN： In financial journalism, dramatic verbs like 'shook', 'slammed', or 'plunged' are commonly used to describe market movements. This reflects the high-stakes, fast-paced nature of global stock markets where investor sentiment can shift rapidly.
中文： 在財經新聞中，經常會使用如「shook」（震驚）、「slammed」（重擊）或「plunged」（暴跌）等戲劇性的動詞來描述市場波動。這反映了全球股市高風險、快節奏的本質，其中投資人情緒可能會迅速轉變。
EN： The present perfect tense ('have started') is used to describe an action that began in the past and has relevance or continues to the present moment. It is formed with 'have/has' + past participle.
中文： 現在完成式（have started）用於描述一個在過去開始，且與現在有密切關係或持續到現在的動作。其結構為「have/has + 過去分詞」。
We have already started the project.
我們已經開始這個專案了。
EN： The conjunction 'whether' is used to introduce a noun clause (dependent clause) expressing doubt or choice between alternatives, often acting as the object of verbs like 'question' or 'wonder'.
中文： 連接詞「whether」（是否）用於引導名詞子句（從屬子句），表示懷疑或在不同選項中做選擇，常作為「question」（質疑）或「wonder」（想知道）等動詞的受詞。
She wonders whether the store is open today.
她想知道這家店今天是否有營業。
EN： In financial markets, the term 'valuation' refers to the analytical process of determining the current (or projected) worth of an asset or a company. When tech valuations soar rapidly, it often sparks debates among global investors about whether a speculative bubble is forming, reminiscent of the dot-com era.
中文： 在金融市場中，「估值」（valuation）是指評估資產或公司當前（或預期）價值的分析過程。當科技股估值迅速飆升時，往往會引發全球投資人對於是否正在形成投機泡沫的爭論，這讓人聯想到2000年代初期的網路泡沫時期。
EN： The compound adjective 'tech-heavy' is formed by combining a noun ('tech') and an adjective ('heavy') with a hyphen. This structure is commonly used in English to modify a noun, functioning as a single adjective.
中文： 複合形容詞「tech-heavy」（以科技股為主的）是由名詞（tech）和形容詞（heavy）用連字號結合而成。這種結構在英文中常用來修飾名詞，其功能相當於單一形容詞。
The export-heavy economy is vulnerable to global trade tensions.
這個以出口為主的經濟體很容易受到全球貿易緊張局勢的影響。
EN： The coordinating conjunction 'and' is used here to connect two independent clauses: 'The tech-heavy Nasdaq index opened two percent lower' and 'the Dow and S&P 500 also fell at opening'. A comma is placed before 'and' because it connects two complete thoughts.
中文： 對等連接詞「and」在此處用於連接兩個獨立子句：「The tech-heavy Nasdaq index opened two percent lower」與「the Dow and S&P 500 also fell at opening」。在「and」之前加上逗號，是因為它連接了兩個完整的概念。
The stock market closed early, and investors remained cautious.
股市提早收盤，且投資人保持謹慎。
EN： The Nasdaq, Dow (Dow Jones Industrial Average), and S&P 500 are the three most closely watched stock market indices in the United States. The Nasdaq is famous for its high concentration of technology and growth stocks, making it highly sensitive to news about artificial intelligence and tech sector earnings.
中文： 納斯達克（Nasdaq）、道瓊工業指數（Dow）和標普500指數（S&P 500）是美國最受關注的三大股市指數。納斯達克以高度集中科技股和成長股而聞名，因此對人工智慧和科技產業財報等消息極為敏感。
EN： The Past Perfect tense (had + past participle) is used to describe an action that was completed before another point in time or event in the past. In this sentence, 'had hit' indicates that the stock indices reached record highs before the recent market sell-off occurred.
中文： 過去完成式（had + 過去分詞）用於描述在過去某個時間點或事件之前已經完成的動作。在本句中，「had hit」表示股指在最近的市場拋售潮發生之前，就已經創下了歷史新高。
The company had already launched its new product before the market crashed.
在市場崩盤之前，該公司就已經推出了新產品。
EN： The prepositional phrase 'because of' is used to introduce a reason or cause. It must be followed by a noun, pronoun, or noun phrase (e.g., 'strong interest'), unlike 'because' which is followed by a full clause with a subject and verb.
中文： 介系詞片語「because of」用於引導原因。其後必須接名詞、代名詞或名詞片語（例如「strong interest」），與後面接完整主詞和動詞子句的「because」不同。
The flight was delayed because of the heavy rain.
由於暴雨，班機延誤了。
EN： In US financial markets, the 'three major indices' refer to the Dow Jones Industrial Average (the Dow), the S&P 500, and the Nasdaq Composite. They are widely regarded as the primary indicators of the overall health of the US stock market and economy.
中文： 在美國金融市場中，「三大指數」指的是道瓊工業指數（the Dow）、標普500指數（S&P 500）和納斯達克綜合指數（Nasdaq）。它們被廣泛視為衡量美國股市和整體經濟健康狀況的主要指標。
EN： The present perfect tense ('have warned') is used here to describe an action that happened at an unspecified time in the past and has relevance to the present situation. It is formed with 'have/has' + past participle.
中文： 現在完成式（have warned）在此用於描述過去某個不確定時間點發生、且與現在情況相關的動作。其結構為「have/has + 過去分詞」。
Many experts have warned about the risks of rapid technological change.
許多專家已經對技術快速變革的風險提出了警告。
EN： The noun clause starting with 'that' ('that the rush... could be a bubble') acts as the direct object of the verb 'warned'. It contains a complete sentence structure (subject + verb + complement) to express the content of the warning.
中文： 由「that」引導的名詞子句（that the rush... could be a bubble）作為動詞「warned」的直接受詞。它包含一個完整的句子結構（主詞 + 動詞 + 補語），用來表達警告的具體內容。
She believes that the project will succeed.
她相信這個專案會成功。
EN： The term 'bubble' in economics refers to a situation where the prices of assets (like tech stocks) rise far above their actual value, often driven by hype or speculation, before rapidly collapsing (bursting). This is a direct reference to historical events like the 'dot-com bubble' of the early 2000s.
中文： 經濟學中的「bubble」（泡沫）是指資產（如科技股）價格因炒作或投機而遠高於其實際價值的現象，通常隨後會迅速崩潰（破裂）。這直接讓人聯想到 2000 年代初期的「網路泡沫」（dot-com bubble）。
EN： The verb pattern 'compare A to B' is used to point out similarities between two different things, or to liken one thing to another.
中文： 動詞片語「compare A to B」（將 A 比作 B）用於指出兩個不同事物之間的相似之處，或將某事與另一事進行類比。
Scientists compare the brain to a powerful computer.
科學家將大腦比作一台功能強大的電腦。
EN： The relative clause 'that burst in the early 2000s' uses the relative pronoun 'that' as the subject to modify the noun phrase 'the dot-com bubble'. 'Burst' is in its past tense form here (burst-burst-burst).
中文： 關係子句「that burst in the early 2000s」使用關係代名詞「that」作為主詞，用來修飾名詞片語「the dot-com bubble」（網路泡沫）。這裡的「burst」為過去式動詞（三態同形）。
EN： The 'dot-com bubble' (also known as the Internet bubble) was a rapid rise in U.S. technology stock equity valuations fueled by investments in Internet-based companies in the late 1990s. The bubble burst in 2000–2002, causing massive financial losses and the collapse of many tech startups. It remains a classic historical reference point for market speculation.
中文： 「網路泡沫」（dot-com bubble，又稱網際網路泡沫）是指 1990 年代末期，因網際網路相關企業投資過熱，導致美國科技股估值急遽飆升的現象。該泡沫於 2000 年至 2002 年間破裂，造成巨大的財務損失及眾多科技新創公司倒閉。至今，它仍是市場投機行為的經典歷史參考案例。
EN： The phrasal verb 'make up' is used to describe the parts or members that form a whole. It is often followed by a percentage, fraction, or proportion to show composition.
中文： 片語動詞「make up」用於描述組成整體的部分或成員。其後通常接百分比、分數或比例，用以表示結構組成（佔……比例）。
Local residents make up sixty percent of the workforce.
當地居民佔了勞動人口的百分之六十。
EN： The possessive form ('s) is applied to proper nouns representing organizations or indices (e.g., 'S&P 500's') to indicate ownership or association with a particular attribute like 'total value'.
中文： 所有格符號（'s）可用於代表機構或指數的專有名詞（例如「S&P 500's」），以表示其所有權或與特定屬性（如「總市值」）的關聯。
The company's future looks very bright.
這家公司的未來前景看好。
EN： The 'S&P 500' (Standard & Poor's 500) is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States. The mention of 'Seven technology companies' refers to the 'Magnificent Seven' (Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla), which have come to dominate the US stock market due to the boom in AI technology.
中文： 「標普500指數」（S&P 500）是追蹤美國證券交易所上市的500家最大公司股票表現的股市指數。句中提到的「七家科技公司」指的是「科技七巨頭」（Magnificent Seven，包括 Alphabet、Amazon、Apple、Meta、Microsoft、Nvidia 和 Tesla），由於人工智慧（AI）技術的蓬勃發展，它們在美國股市中佔據了極大的主導地位。
EN： The structure 'make + object + adjective' is a causative construction where 'make' (使、讓) causes the object to enter a specific state described by the adjective.
中文： 「make + 受詞 + 形容詞」是一種使役用法，表示「使/讓」受詞進入該形容詞所描述的狀態。
The sudden noise made the baby crying and nervous.
突然的噪音讓嬰兒感到緊張。
EN： The noun 'reliance' is commonly paired with the preposition 'on' to indicate the entity being depended upon (reliance on something).
中文： 名詞「reliance」（依賴）通常與介係詞「on」搭配，用來表示所依賴的對象（對某事物的依賴）。
Our reliance on fossil fuels must be reduced.
我們對化石燃料的依賴必須減少。
EN： In financial contexts, 'heavy reliance on a single industry' refers to lack of diversification. This is a common concern in stock markets (like the S&P 500) when a few mega-cap tech stocks (often called the 'Magnificent Seven') drive most of the market's gains, making the entire financial system vulnerable to sector-specific shocks.
中文： 在金融領域中，「對單一產業的過度依賴」指的是缺乏分散投資。這在股市（如標普500指數）中是一個常見的隱憂，特別是當少數幾家超大型科技股（通常被稱為「科技七巨頭」）主導了市場的大部分漲幅時，會使整個金融體系更容易受到特定產業波動的衝擊。
EN： Passive Voice (was + past participle): Used when the focus is on the action or the receiver of the action, rather than the doer. In this sentence, 'was triggered' emphasizes the effect (the sell-off) rather than the cause.
中文： 被動語態（was + 過去分詞）：當焦點放在動作本身或動作的接受者，而非執行者時使用。在本句中，「was triggered」（被引發）強調的是結果（拋售潮）而非原因。
The window was broken by the wind.
窗戶是被風吹破的。
EN： Preposition 'by' for Agent: In passive sentences, the preposition 'by' is used to introduce the person or thing that performs the action (the agent).
中文： 介係詞「by」引介執行者：在被動語態中，介係詞「by」用來引出執行該動作的人或事物（施動者）。
The novel was written by a famous author.
這本小說是由一位著名作家所寫的。
EN： In financial markets, 'Monday' is often a significant day for market reactions, as it is the first trading day after the weekend. Major news that accumulates over the weekend often triggers sharp movements (like a 'sell-off') when the market opens on Monday morning.
中文： 在金融市場中，「週一」通常是市場反應的關鍵日子，因為這是週末過後的第一個交易日。週末累積的重大新聞往往會在週一早上開盤時引發劇烈的市場波動（例如「拋售潮」）。
EN： Appositives (同位語) are nouns or noun phrases placed next to another noun to identify or explain it. In this sentence, 'the parent company of Google' is an appositive phrase that provides more information about the subject 'Alphabet'. It is set off by commas.
中文： 同位語（Appositives）是緊跟在另一個名詞旁邊的名詞或名詞片語，用於解釋或補充說明該名詞。在本句中，「the parent company of Google」是一個同位語片語，用來補充說明主詞「Alphabet」的身分，前後以逗號隔開。
Mr. Smith, my high school English teacher, wrote a book.
史密斯先生，也就是我的高中英文老師，寫了一本書。
EN： The superlative adjective 'worst' (the irregular superlative form of 'bad') is used to describe the single most extreme case among three or more things. Here, it describes the single most negative trading day for Alphabet in a period of over a year.
中文： 最高級形容詞「worst」（為「bad」的不規則最高級變化）用於描述三個或以上事物中，程度最極端的一個。在此處，它用來形容 Alphabet 在過去一年多以來，表現最差、最慘烈的一個交易日。
This is the worst movie I have ever seen.
這是我看過最爛的電影。
EN： Alphabet Inc. is the multinational conglomerate created through a corporate restructuring of Google in 2015. While consumers know the brand as 'Google', in financial and stock market contexts, it is referred to by its parent company name, 'Alphabet'.
中文： Alphabet 是 2015 年透過 Google 企業重組而成立的跨國集團。雖然一般消費者熟知其品牌名稱為「Google」，但在金融與股市脈絡中，通常會使用其母公司的名稱「Alphabet」來進行指稱。
EN： The non-defining relative clause introduced by ', which' is used to add extra information about the entire preceding clause rather than just the noun before it. In this sentence, 'which' refers to the entire event of 'Two well-known AI researchers leaving the company last week'.
中文： 由「, which」引導的非限定關係子句，用於對前面整個子句所描述的情況或事件進行補充說明，而非僅修飾緊鄰的名詞。在此句中，「which」代表「兩名知名 AI 研究人員在上週離職」這整件事。
He passed the difficult exam, which surprised everyone.
他通過了那場艱難的考試，這讓每個人都很驚訝。
EN： The past participle 'worried' is used here as an adjective describing the emotional state of the object (investors). It is derived from the transitive verb 'worry' (to cause anxiety to someone).
中文： 過去分詞「worried」在此處用作形容詞，描述受詞（投資人）的情感狀態。它源自及物動詞「worry」（使人擔心、憂慮）。
The bad news made the clients worried about their investments.
這則壞消息讓客戶對他們的投資感到憂心。
EN： The preposition 'by' is used to indicate a deadline or the latest time by which something was completed. In financial contexts, 'by the end of [day/month/year]' specifies the point in time when a certain value or change was reached.
中文： 介係詞「by」用於表示期限，或某事完成的最晚時間點。在財經情境中，「by the end of [星期/月份/年份]」用來明確指出達到某個數值或變化的時間點（在...結束之前/到...為止）。
The company hopes to sign the contract by the end of the week.
該公司希望在週五結束前簽署合約。
EN： The verb 'drop' is an intransitive verb here, meaning to decrease in value or amount. It is often followed directly by the amount of decrease (e.g., 'dropped five percent') without needing a preposition like 'by' (though 'dropped by five percent' is also grammatically correct and common).
中文： 動詞「drop」在此處為不及物動詞，表示數值或數量的下跌。其後通常可以直接接上下跌的幅度（例如「dropped five percent」），而不需要加上介係詞「by」（雖然「dropped by five percent」在文法上也是正確且常見的）。
Temperatures dropped ten degrees overnight.
氣溫在夜間下降了十度。
EN： In financial news, 'by the end of Monday' typically refers to the closing price of the stock market on Monday (usually 4:00 PM Eastern Time in the US). Alphabet, the parent company of Google, is one of the 'Magnificent Seven' tech giants whose stock performance heavily influences major US indices like the S&P 500.
中文： 在財經新聞中，「by the end of Monday」通常指週一股市收盤時（美國東部時間下午 4:00）。Google 的母公司 Alphabet 是「科技七巨頭」（Magnificent Seven）之一，其股價表現對標普500指數等美國主要股指有著舉足輕重的影響。
EN： Noun Clause as Object (賓語從句): The word 'that' introduces a noun clause functioning as the direct object of the reporting verb 'said'. It contains a complete sentence structure (subject + verb) and 'that' can often be omitted in informal speech.
中文： 名詞子句作賓語：單字「that」引導一個名詞子句，作為報導動詞「said」的直接賓語。該子句包含完整的句子結構（主詞 + 動詞），在非正式口語中「that」通常可以省略。
The report indicated that consumer spending has increased.
報告指出消費者支出有所增加。
EN： Adjective Complement with Preposition (形容詞搭配介係詞): The adjective 'careful' is followed by the preposition 'about' to specify the object of care or concern ('careful about something').
中文： 形容詞與介係詞的搭配：形容詞「careful」（謹慎的）後面接介係詞「about」，用來指定關注或謹慎的對象（對某事感到謹慎）。
We must be careful about the decisions we make.
我們必須對我們所做的決定保持謹慎。
EN： Present Perfect Passive: Formed with 'have/has + been + past participle'. It is used to describe an action that started in the past and has a connection to the present, focusing on the receiver of the action rather than the doer.
中文： 現在完成式被動語態：由「have/has + been + 過去分詞」構成。用於描述過去開始且與現在有聯繫的動作，強調動作的承受者而非執行者。
The decision has been delayed by the committee.
該決定已被委員會推遲。
EN： Passive Voice with 'by': The preposition 'by' is used to introduce the agent (the person or thing performing the action) in a passive sentence.
中文： 使用「by」的被動語態：介系詞「by」在被動句中用來引介施動者（執行該動作的人或事物）。
The project was approved by the manager.
該專案已獲得經理批准。
EN： The 'Federal Reserve' (often referred to as 'the Fed') is the central banking system of the United States. In financial news, signals or statements from the Fed regarding interest rates are highly anticipated and can cause immediate, significant reactions in global stock markets.
中文： 「聯邦準備理事會」（通常簡稱為「美聯儲」或「聯準會」）是美國的中央銀行系統。在財經新聞中，聯準會關於利率的任何訊號或聲明都備受關注，並可能在全體金融市場中引發即時且重大的反應。
EN： The sentence uses a noun clause (that-clause) acting as the direct object of the verb 'suggested'. The conjunction 'that' introduces the clause 'it may raise interest rates...' and is often omitted in informal speech, but kept here for formal clarity.
中文： 本句使用名詞子句（that 子句）作為動詞「suggested」（暗示）的直接受詞。連接詞「that」引導子句「it may raise interest rates...」，在非正式口語中常被省略，但在此處保留以維持正式語氣。
The report suggested that the company would expand its business next year.
該報告暗示該公司明年將擴大業務。
EN： The infinitive phrase 'to fight rising inflation' is used as an adverbial of purpose, explaining 'why' the central bank may raise interest rates. 'To' means 'in order to'.
中文： 不定詞片語「to fight rising inflation」用作目的副詞，解釋聯邦準備理事會「為什麼」可能會提高利率。這裡的「to」意為「為了」。
She saved money to buy a new laptop.
她存錢是為了買一台新筆記型電腦。
EN： In the United States, 'the central bank' refers to the Federal Reserve (often called 'the Fed'). Its decisions on interest rates are closely watched globally because they heavily influence borrowing costs, stock markets, and economic growth worldwide.
中文： 在美國，「the central bank」（中央銀行）指的是「聯邦準備理事會」（簡稱美聯儲或聯準會）。其對利率的決定受到全球密切關注，因為這會極大地影響全球的借貸成本、股市和經濟增長。
EN： Non-defining relative clauses are introduced by 'which' (preceded by a comma) to add extra information about the entire preceding clause. In this sentence, 'which' refers to the whole situation of 'higher interest rates increasing the cost of borrowing'.
中文： 非限定關係子句由「which」（前面加上逗號）引導，用來對前面整個子句所描述的情況進行補充說明。在本句中，「which」代表「較高利率增加借貸成本」這整件事。
The company decided to cut its budget, which worried many employees.
公司決定縮減預算，這讓許多員工感到擔憂。
EN： Comparative adjectives (e.g., 'higher') are used to compare two things. Here, 'higher interest rates' implies rates that are higher than the current or previous levels.
中文： 比較級形容詞（例如「higher」）用於比較兩件事物。在這裡，「higher interest rates」（較高的利率）指的是比目前或先前水準還要高的利率。
Lower prices usually attract more customers to the store.
較低的價格通常會吸引更多顧客光顧這家店。
EN： In financial markets, the decisions of central banks (like the Federal Reserve in the US) regarding interest rates are closely watched. Higher interest rates are a standard tool to combat inflation, but they make borrowing more expensive for companies. This particularly impacts high-growth sectors like technology and AI, which rely heavily on massive capital investments for research and infrastructure.
中文： 在金融市場中，各國央行（如美國的聯邦準備理事會）對利率的決策備受矚目。調高利率是對抗通貨膨脹的標準工具，但這會增加企業的借貸成本。這對於科技和人工智慧（AI）等高成長產業的影響尤為顯著，因為這些產業極度依賴龐大的資金投入來進行研發與基礎建設。
EN： Noun Clause with 'that': The conjunction 'that' introduces a noun clause functioning as the direct object of the reporting verb 'noted'. It reports a statement or fact.
中文： that 引導的名詞子句：連接詞「that」在此引導一個名詞子句，作為報導動詞「noted」（指出）的直接受詞，用來陳述一個事實或觀點。
The report indicated that consumer spending has increased.
報告指出消費者支出有所增加。
EN： Adverbial Clause of Time with 'when': The conjunction 'when' introduces a dependent adverbial clause of time, describing the condition or time under which the action in the main clause occurs.
中文： when 引導的時間副詞子句：連接詞「when」（當……時）引導一個從屬的時間副詞子句，用來描述主句動作發生的時間或條件。
When interest rates rise, borrowing money becomes more difficult.
當利率上升時，借錢會變得更加困難。
重要單字附有 IPA 發音、定義、例句和互動式測驗。
在本文中： 估值，對資產或公司價值的評估
在本文中： 有合理理由的，事出有因的
在本文中： 基礎建設，基礎設施
在本文中： 依賴，依靠
在本文中： 觸發，引起
在本文中： 分析師
在本文中： 加劇，提高（尤指情緒或效果）
在本文中： 通貨膨脹
片語包含類型標示、雙語定義、用法說明和例句。
A rapid and large-scale selling of securities or commodities, causing a sharp decline in prices.
拋售，恐慌性賣出
A rapid rise in US technology stock equity valuations fueled by investments in Internet-based companies in the late 1990s.
網路泡沫，網際網路泡沫
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage.
利率
To reduce speed or activity; to make something happen more slowly.
放慢，減速，放緩