The problem was that the two markets acted on each other; as the futures price fell, so did the cash value of shares, forcing institutions to sell more futures and so on.

问题是两个市场相辅相成，当期货价格下跌时，股市的价值也在下跌，使得机构不得不卖出更多的期货，这不断循环下去。

youdao

The difference between the cash price and the futures price of a commodity.

指某一商品的现货价格与期货价格之间的价差。

youdao

Purchase of futures against the fixed price forward sale of a cash commodity.

为了确保将来能以固定价格卖出现货商品而买入期货合约。

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As investors sold futures to protect themselves against a crash, the cash price of shares was driven down as well.

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The constant onslaught of cash into these markets causes a frenzy in the price of the futures contracts and drags the spot prices ever upward.

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The price of the cash index (we were doing MMI) was way, way above where the futures were trading.

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