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Stocks plunge as new data signals inflation concerns
🎬 互動字幕 (54段)
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00:00
BOSS CONTINUES TO PUSH A U.S.
某位老闆持續推動一樁美國交易
00:02
TAKEOVER OF THE ENERGY- RICH TERRITORY.
接管能源富饒的領土
00:06
THE DOW IS DOWN FOLLOWING UNCERTAINTY OVER INFLATION AND
由於通膨與關稅的不確定性，道瓊指數下跌
00:08
TARIFFS, WITH JUST AN HOUR TO GO IN THE TRADING WEEK THE DOW IS
由於關稅議題，在本交易週僅剩一小時之際，道瓊指數仍持續下跌。
00:14
CURRENTLY DOWN ALMOST 1.75%.
目前下跌近 1.75%。
00:18
A S&P AND NASDAQ REMAIN DOWN A LITTLE MORE THAN 2% FOR MOST
標普與那斯達克指數在今日大部分交易時段中，跌幅仍維持在 2% 略多一點的水準。
00:21
OF THE TRADING DAY.
在今日大部分交易時段中
00:22
THE CORE PERSONAL CONSUMPTION EXPENDITURES INDEX, PCE, THE FED'S PREFERRED
核心個人消費支出指數，也就是聯準會偏好的 PCE 指標
00:30
INFLATION MEASURE TICKED UP LAST MONTH, SIGNALING THAT PRICE HIKES
通膨指標上月微幅上升，顯示物價漲幅居高不下
00:36
REMAIN REMAIN STUB URNLY HIGH.
居高不下，持續居高不下
00:45
WHY ARE WE SEEING THIS, PAUL?
我們為什麼會看到這種現象，保羅？
00:48
>> YEAH, THIS IS BRUTAL.
是啊，這真的很慘。
00:48
I THINK A BIG PART OF IT, AS YOU MENTIONED, THE PERSONAL CONSUMPTION EXPENDITURE NUMBERS
我認為其中很大一部分，如您所提到的，是個人消費支出數據。
00:51
THAT CAME OUT THIS MORNING DID SHOW THAT CORE INFLATION WAS A LITTLE BIT HIGHER THAN EXPECTED.
今天早上公布的數據確實顯示核心通膨比預期略高。
00:55
THAT'S OBVIOUSLY THE INFLATION NUMBERS THAT BACK OUT FOOD AND ENERGY.
那顯然是排除了食品與能源的通膨數據。
01:03
YOU KNOW, THE MARKET HAS REALLY BEEN STARTING TO BELIEVE THAT INFLATION IS COOLING, AND I
要知道，市場真的已經開始相信通膨正在降溫了，而我
01:07
THINK IT STILL IS.
我仍然認為是這樣。
01:09
THE PROBLEM IS THAT IT'S STICKY, IT'S PERSISTENT, NOT GOING DOWN
問題在於它居高不下、持續存在，並未下降
01:12
AS QUICKLY AS WE WOULD LIKE TO SEE.
不像我們希望看到的那麼快
01:16
AND YOU COUPLE THAT WITH WORRIES ABOUT MAYBE INFLATION GOING
再加上對於通膨可能再度攀升的擔憂
01:20
HIGHER AGAIN BECAUSE OF TARIFFS THAT HAVE ALREADY BEEN IMPLEMENTED AND EVEN MORE THAT
因為已經實施的關稅，以及更多即將生效的關稅，價格再次上漲。
01:23
ARE ABOUT TO KICK IN.
即將生效的關稅。
01:25
THERE'S A LOT OF ANXIETY ON WALL STREET ABOUT WHAT'S GOING TO
華爾街非常擔憂消費支出會如何發展，
01:28
HAPPEN TO CONSUMER SPENDING, WHAT'S GOING TO HAPPEN TO AUTO SALES WITH THE AUTO TARIFFS.
以及汽車關稅對汽車銷售會造成什麼影響。
01:34
SO IT'S SORT OF CLICHE TO SAY WALL STREET HATES UNCERTAINTY, BUT GUESS WHAT, WALL STREET
雖然說華爾街討厭不確定性是陳腔濫調，
01:38
HATES UNCERTAINTY.
但沒錯，華爾街就是討厭不確定性。
01:41
>> GIVE US A BIG PICTURE OF WHERE WE'RE AT AND WHAT ARE YOU GOING TO BE WATCHING FOR THE
>> 請為我們整體說明目前的狀況，接下來幾天您會關注什麼，
01:45
NEXT FEW DAYS, ESPECIALLY APRIL 2nd COMING NEXT WEEK, MORE TARIFFS SET TO TAKE EFFECT?
特別是下週的4月2日，是否會有更多關稅生效？
01:48
>> DEFINITELY.
>> 當然。
01:50
WHEN YOU LOOK AT THE MARKETS, WE'RE DOWN FOR THE YEAR, BUT WE'RE STILL NOT TERRIBLY FAR
從市場來看，今年雖然下跌，但距離歷史高點
01:57
OFF OF SOME OF THE ALL-TIME HIGHS.
其實並不算太遠。
02:04
THE S&P 500 IS NO LONGER IN WHAT'S CALLED A CORRECTION, MORE THAN 10% BELOW A RECENT
標普500指數已脫離所謂的修正區，也就是從近期高點
02:11
PEAK.
下跌超過10%的區間。
02:11
SO THAT IS GOOD NEWS IF YOU WANT TO CONSIDER THAT IT COULD BE
如果你認為情況可能更糟，這算是好消息。
02:15
WORSE.
35.
02:15
I THINK WHAT EVERYONE IS GOING TO BE LOOKING FOR, WHAT HAPPENS
我認為大家都在關注4月2日的關稅
02:18
WITH THOSE TARIFFS ON APRIL 2nd, ARE THEY GOING TO KICK IN AND
那些在4月2日實施的關稅，會不會就此生效並且
02:20
THEN THAT'S GOING TO BE IT AND WE FACE A NEW KIND OF WORLD THAT COUNTRIES ARE GOING TO HAVE TO
然後一切就此定案，我們將面臨一個各國必須
02:27
ADJUST TO WHEN IT COMES TO TRADING WITH AMERICA.
調整以適應與美國貿易的新世界。
02:31
WILL THERE BE ROOM FOR MORE NEGOTIATIONS, BE IT LAST-MINUTE BEFORE THE APRIL 2nd DEADLINE
是否還有談判的空間，無論是在4月2日截止前的最後一刻，
02:34
OR AFTERWARDS?
還是之後？
02:36
WE KNOW PRESIDENT TRUMP LOVES MAKING DEALS.
我們知道川普總統喜歡達成交易。
02:41
AND THEN, ALSO, DON'T FORGET NEXT WEEK THE JOBS REPORT FOR MARCH COMES OUT ON FRIDAY.
另外，也別忘了下週的三月份就業報告將在週五公佈。
02:46
THAT'S GOING TO BE SOMETHING THAT WALL STREET IS LOOKING CLOSELY AT, BECAUSE IF THERE'S
這將是華爾街密切關注的焦點，因為如果出現
02:51
WEAKNESS, PARTICULARLY IN THE GOVERNMENT SECTOR BECAUSE OF ALL THE DOGE CUTS, THAT COULD BE
疲弱，特別是在政府部門，因為所有的 DOGE 削減，那可能成為
02:55
A CONCERN.
一項隱憂。
02:59
AND THE JOBS NUMBERS ALSO HAVE, AS PART OF THAT, A FIGURE CALLED AVERAGE HOURLY EARNINGS,
而就業數據中也包含一個稱為「平均時薪」的數字，
03:03
WHICH IS WAGE GROWTH.
也就是工資成長。
03:05
WHEN WAGES ARE GOING UP DRAMATICALLY, THAT'S USUALLY A SIGN OF INFLATION.
當工資大幅上漲時，這通常是通膨的訊號。
03:11
SO IF WAGES START TO COOL, THAT MAY NOT SOUND LIKE GREAT NEWS FOR CONSUMERS WHO WANT BIGGER
所以如果工資開始降溫，對於想要更高
03:15
PAYCHECKS, BUT IT WOULD ACTUALLY BE WELCOME NEWS TO WALL STREET
薪水的消費者來說，這聽起來可能不是好消息，但對華爾街
03:17
AND FEDERAL RESERVE.
和聯準會來說，這其實是個好消息。
03:20
IT MIGHT ALLOW THE FED TO START CUTTING INTEREST RATES AGAIN LATER THIS YEAR BECAUSE THEY
這可能讓聯準會在今年稍晚再次開始降息，因為他們
03:24
WOULD BE LESS WORRIED ABOUT PRICES AND MORE WORRIED ABOUT A SLOWING ECONOMY.
會比較不擔心物價，而更擔心經濟放緩。

Stocks plunge as new data signals inflation concerns

📝 影片摘要

本單元以「通膨與購買力」為主題，分析最新經濟數據引發的市場動盪。影片指出，聯準會偏好的通膨指標——個人消費支出物價指數（PCE）意外攀升，顯示通膨壓力依然頑固。此外，即將生效的關稅政策（特別是4月2日的汽車關稅）增添了經濟前景的不確定性，導致道瓊、標普500與那斯達克指數全面下挫。專家分析，華爾街厌恶不確定性，而下週的就業報告與薪資增長數據將是決定聯準會是否降息的關鍵，若薪資降溫，反而可能有助於抑制通膨。

📌 重點整理

  • ✓ PCE指數（聯準會首選的通膨指標）意外上升，顯示核心通膨依然頑固。
  • ✓ 受通膨疑慮與關稅不確定性影響，美股三大指數（道瓊、S&P、那斯達克）皆大幅下跌。
  • ✓ 即將於4月2日生效的關稅（特別是汽車關稅）引發華爾街對消費支出下滑的擔憂。
  • ✓ 華爾街的特性是高度厌恶不確定性，目前市場正等待政策的最終落地。
  • ✓ 目前標普500指數已脱离修正區（跌幅低於10%），但仍有下行風險。
  • ✓ 下週五公布的3月就業報告是觀察重點，需關注政府部門就業疲軟的可能性。
  • ✓ 「平均時薪」（薪資增長）是通膨的重要指標；薪資漲幅過大通常意味著通膨壓力。
  • ✓ 若薪資增長放緩，聯準會可能在今年稍晚重新啟動降息，以應對經濟放緩而非通膨。
📖 專有名詞百科 ｜點擊詞彙查看維基百科解釋
接管
Takeover
通貨膨脹
Inflation
關稅
Tariffs
支出
Expenditures
持續的
Persistent
不確定性
Uncertainty
修正
Correction
談判
Negotiations
收入
Earnings
聯邦準備理事會
Federal Reserve

🔍 自訂查詢

📚 共 10 個重點單字
Takeover /ˈteɪkˌoʊvər/ noun
The act of gaining control of a company or territory.
接管；收購
📝 例句
"BOSS CONTINUES TO PUSH A U.S. TAKEOVER OF THE ENERGY- RICH TERRITORY."
→ 老闆持續推動美國接管能源豐富的領土。
✨ 延伸例句
"The company announced a takeover of its rival."
→ 該公司宣布收購其競爭對手。
Inflation /ɪnˈfleɪʃən/ noun
A general increase in prices and fall in the purchasing value of money.
通貨膨脹
📝 例句
"THE DOW IS DOWN FOLLOWING UNCERTAINTY OVER INFLATION AND TARIFFS."
→ 由於對通膨和關稅的不確定性，道瓊指數下跌。
✨ 延伸例句
"High inflation erodes savings."
→ 高通膨會侵蝕存款。
Tariffs /ˈtærɪf/ noun
Taxes or duties to be paid on imports or exports.
關稅
📝 例句
"THE DOW IS DOWN FOLLOWING UNCERTAINTY OVER INFLATION AND TARIFFS."
→ 由於對通膨和關稅的不確定性，道瓊指數下跌。
✨ 延伸例句
"The government imposed tariffs on steel imports."
→ 政府對鋼鐵進口課徵關稅。
Expenditures /ɪkˈspɛndɪtʃərz/ noun
The action of spending funds; money spent on a particular purpose.
支出；花費
📝 例句
"THE CORE PERSONAL CONSUMPTION EXPENDITURES INDEX, PCE, THE FED'S PREFERRED INFLATION MEASURE."
→ 核心個人消費支出物價指數 PCE，是聯準會首選的通膨衡量指標。
✨ 延伸例句
"Government expenditures on healthcare are rising."
→ 政府在醫療保健上的支出正在增加。
Persistent /pərˈsɪstənt/ adjective
Continuing to exist or endure over a prolonged period.
持續的；持久的
📝 例句
"THE PROBLEM IS THAT IT'S STICKY, IT'S PERSISTENT, NOT GOING DOWN AS QUICKLY AS WE WOULD LIKE TO SEE."
→ 問題在於它是黏著的、是持續的，下降速度不如我們所希望看到的那麼快。
✨ 延伸例句
"Despite the rain, the team remained persistent."
→ 儘管下雨，團隊依然堅持不懈。
Uncertainty /ʌnˈsɜːrtənti/ noun
The state of being unsure or unpredictable.
不確定性
📝 例句
"SO IT'S SORT OF CLICHE TO SAY WALL STREET HATES UNCERTAINTY, BUT GUESS WHAT, WALL STREET HATES UNCERTAINTY."
→ 雖然說華爾街討厭不確定性是陳腔濫調，但沒錯，華爾街就是討厭不確定性。
✨ 延伸例句
"Economic uncertainty is affecting investment."
→ 經濟的不確定性正在影響投資。
Correction /kəˈrɛkʃən/ noun
A reverse movement, typically negative, of at least 10% in a market index.
修正（指股市下跌至少10%）
📝 例句
"THE S&P 500 IS NO LONGER IN WHAT'S CALLED A CORRECTION, MORE THAN 10% BELOW A RECENT PEAK."
→ 標普500指數已脫離所謂的修正區，也就是從近期高點下跌超過10%的區間。
✨ 延伸例句
"Investors bought stocks during the market correction."
→ 投資者在市場修正期間買入股票。
Negotiations /nɪˌɡoʊʃiˈeɪʃənz/ noun
Discussions aimed at reaching an agreement.
談判；協商
📝 例句
"WILL THERE BE ROOM FOR MORE NEGOTIATIONS, BE IT LAST-MINUTE BEFORE THE APRIL 2nd DEADLINE OR AFTERWARDS?"
→ 是否還有談判的空間，無論是在4月2日截止前的最後一刻，還是之後？
✨ 延伸例句
"The negotiations between the two companies were successful."
→ 兩家公司之間的談判很成功。
Earnings /ˈɜːrnɪŋz/ noun
A sum of money or payment made for work or services.
收入；收益
📝 例句
"THE JOBS NUMBERS ALSO HAVE, AS PART OF THAT, A FIGURE CALLED AVERAGE HOURLY EARNINGS."
→ 就業數據中也包含一個稱為「平均時薪」的數字。
✨ 延伸例句
"The company reported strong earnings this quarter."
→ 該公司本季報告了強勁的收益。
Federal Reserve /ˌfɛdərəl rɪˈzɜːrv/ noun
The central banking system of the United States.
聯邦準備理事會（聯準會）
📝 例句
"THAT WOULD ACTUALLY BE WELCOME NEWS TO WALL STREET AND FEDERAL RESERVE."
→ 這對華爾街和聯準會來說，其實是個好消息。
✨ 延伸例句
"The Federal Reserve raised interest rates."
→ 聯準會調升了利率。
🎯 共 10 題測驗

1 Which index is mentioned as the Federal Reserve's preferred inflation measure? 哪個指標被提及為聯準會首選的通膨衡量指標？ Which index is mentioned as the Federal Reserve's preferred inflation measure?

哪個指標被提及為聯準會首選的通膨衡量指標？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video explicitly states: 'THE CORE PERSONAL CONSUMPTION EXPENDITURES INDEX, PCE, THE FED'S PREFERRED INFLATION MEASURE'.

影片明確指出：「核心個人消費支出物價指數 PCE，是聯準會首選的通膨衡量指標」。

2 What is the current status of the Dow Jones index mentioned in the video? 影片中提到的道瓊指數目前狀況為何？ What is the current status of the Dow Jones index mentioned in the video?

影片中提到的道瓊指數目前狀況為何？

✅ 正確！ ❌ 錯誤，正確答案是 C

The video states: 'THE DOW IS CURRENTLY DOWN ALMOST 1.75%'.

影片指出：「道瓊指數目前下跌近 1.75%」。

3 Why is the market worried about consumer spending according to the video? 根據影片，市場為何擔心消費支出？ Why is the market worried about consumer spending according to the video?

根據影片，市場為何擔心消費支出？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video mentions anxiety on Wall Street regarding consumer spending due to inflation worries and tariffs (specifically auto tariffs).

影片提到華爾街因通膨擔憂和關稅（特別是汽車關稅）而對消費支出感到焦慮。

4 What specific date is highlighted regarding upcoming tariffs? 關於即將到來的關稅，影片特別強調了哪個日期？ What specific date is highlighted regarding upcoming tariffs?

關於即將到來的關稅，影片特別強調了哪個日期？

✅ 正確！ ❌ 錯誤，正確答案是 C

The speaker asks: '...especially April 2nd coming next week, more tariffs set to take effect?'

提問者問道：「...特別是下週的4月2日，是否會有更多關稅生效？」

5 What does the video suggest about the S&P 500 index regarding 'correction'? 影片對於S&P 500指數與「修正」的關係有何建議？ What does the video suggest about the S&P 500 index regarding 'correction'?

影片對於S&P 500指數與「修正」的關係有何建議？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video states: 'THE S&P 500 IS NO LONGER IN WHAT'S CALLED A CORRECTION'.

影片指出：「標普500指數已脫離所謂的修正區」。

6 When is the March jobs report scheduled to be released? 3月的就業報告預計何時發布？ When is the March jobs report scheduled to be released?

3月的就業報告預計何時發布？

✅ 正確！ ❌ 錯誤，正確答案是 C

The video states: 'DON'T FORGET NEXT WEEK THE JOBS REPORT FOR MARCH COMES OUT ON FRIDAY'.

影片指出：「別忘了下週的三月份就業報告將在週五公佈」。

7 What is 'Average Hourly Earnings' considered a sign of? 「平均時薪」被視為什麼的指標？ What is 'Average Hourly Earnings' considered a sign of?

「平均時薪」被視為什麼的指標？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video states: 'WHEN WAGES ARE GOING UP DRAMATICALLY, THAT'S USUALLY A SIGN OF INFLATION'.

影片指出：「當工資大幅上漲時，這通常是通膨的訊號」。

8 How would Wall Street react to cooling wages according to the expert? 根據專家說法，華爾街對工資降溫會有何反應？ How would Wall Street react to cooling wages according to the expert?

根據專家說法，華爾街對工資降溫會有何反應？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video says: 'If wages start to cool... it would actually be welcome news to Wall Street and Federal Reserve'.

影片說：「如果工資開始降溫...這對華爾街和聯準會來說，其實是個好消息」。

9 If the economy slows down, what might the Federal Reserve do later this year? 如果經濟放緩，聯準會今年稍晚可能會做什麼？ If the economy slows down, what might the Federal Reserve do later this year?

如果經濟放緩，聯準會今年稍晚可能會做什麼？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video states: 'It might allow the Fed to start cutting interest rates again later this year'.

影片指出：「這可能讓聯準會在今年稍晚再次開始降息」。

10 What specific sector is mentioned as a potential source of weakness in the jobs report? 影片中提到哪個特定領域可能在就業報告中表現疲軟？ What specific sector is mentioned as a potential source of weakness in the jobs report?

影片中提到哪個特定領域可能在就業報告中表現疲軟？

✅ 正確！ ❌ 錯誤，正確答案是 C

The video mentions looking for weakness 'particularly in the government sector because of all the DOGE cuts'.

影片提到關注「特別是在政府部門，因為所有的 DOGE 削減」所帶來的疲軟。

測驗完成！得分： / 10

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