Wall Street plunged on Monday amid global sell-off, as investors around the world feared the recent rally of equities had outpaced the prospects for economic growth.

正当全球投资者担心近期股票的反弹速度已经超出经济增长势头时，本周一，华尔街股市随着全球证券价格一起下跌。

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So why is the MSCI World index of global equities down by more than 10% this year, with emerging markets showing double-digit losses and European bourses shedding more than 20% in dollar terms?

那么，为什么摩根·士丹利资本国际指数今年已下挫逾10%，新兴市场的损失达到两位数，若以美元计价的话，欧洲交易所的市值更是流失了超过20% ？

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Thursday's stock-market slump had driven traders around the world to flee equities for the safety of fixed income investments.

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When those are bought, the seller is taking in dollars that will either be used to purchase U.S. exports (we remain the largest exporter in the world) and equities, or exchanged with others who desire what we make and issue.

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Likewise, the bear market in equities in the developed world has wiped out trillions of dollars in valuation, resulting in rising savings rates as consumers, especially those close to a wanted retirement, try to repair their leaking balance sheets.

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