随着资金成本的上升，市场波动性加大，企业开始囤积现金，而不是急于交易。
Market volatility swelled and companies began hoarding cash instead of chasing deals while the cost of capital climbed.
投机者可以做的最糟糕的事不过是给市场增加一点点的波动，而波动性正是商品市场的特点。
The worst that can be said about speculators, then, is that they may add a little to the volatility that anyway characterises commodity markets.
高波动性通常是市场存在不确定性的迹象，而不确定性总是会促使投资者抛售股票，因此波动指数处在高位一般是股市的凶召。
High volatility is often a sign of market uncertainty, and uncertainty usually inspires people to sell stocks, so high VIX readings are usually bad omens for the market.
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