On Tuesday, the stock market fell due to a surprise announcement made
by the Greek Prime Minister. He has called a referendum on last week's
new bailout package. If the Greek population votes against the EU's
financial package, the country could face bankruptcy. The Dow Jones
Industrial average has been down over 300 points, and this decision
caused U.S. markets to spiral downward. The U.S. dollar and U.S.
government bonds rose as traders moved their assets to their safest
locations. |
|
|
word |
pronunciation |
meaning |
Dow |
DOU |
a short name for the Dow Jones Industrial average, a financial index |
bailout |
BĀL-out |
a circumstance in which someone comes to the rescue, especially financially |
average |
A-ver-ij or AV-rij |
the medium, the mid-range |
spiral |
SPĪ-rul |
as a verb--to move with a steady motion |
assets |
A-sets |
things of value |
standard |
STAN-durd |
something used as a base of comparison |
referendum |
re-fur-EN-dum |
the principle of referring a decision to the vote of the general population |
indices |
IN-di-sees |
plural for "index" |
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