过去几年时间里，阿诺特一直利用股权互换合同悄悄增持爱马仕股份，此举导致金融市场监管局于上月对路易威登展开调查。

Mr. Arnault used equity swaps to stealthily build uphis initial stake in Hermès over the past several years, a move that caused theAMF to open an investigation last month into LVMH's move.

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评级下调也可能是信用违约互换(CDS)等金融合同的触发事件，迫使资金易手。历史上，评级下调也曾令市场风声鹤唳。

Downgrades can also be trigger events in financial contracts, like credit default swaps, that force money to change hands between parties; and they have historically spooked markets.

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