Paraphrasing (4th paragraph)
Text
On Wall Street, markets tumbled amid the likelihood of recession and war: The Dow Jones industrial average fell nearly 700 points Monday, then continued a downward spiral that brought about the market 's worst week since the Depression5. The blue-chip index lost 1370 points, or 14.3 percent. The Nasdaq is now trading at the level of the summer of 1997. “It’s no longer about earnings or the economy or interest rates anymore,” says Morgan Stanley6 market strategist Peter Canelo. “It's about fear.”
The main idea of the paragraph
On Wall Street, what prevailed was fear, with the result that the markets tumbled.
在华尔街，恐惧盛行，结果造成市场大跌。
词语解释
blue chip 蓝筹（股）
The name "blue chip" came about because in the game of poker the blue chips have the highest value. A blue chip is a nationally recognized, well-established and financially sound company. Blue chips generally sell high-quality, widely accepted products and services.
Blue-chip stock is seen as a less volatile investment than owning shares in companies without blue-chip status because blue chips have an institutional status in the economy. Blue chip stocks are often viewed as long-term investment instruments. They have low risk and provide modest but dependable return. Examples are International Telephone and Telegraph and Minnesota Mining and Manufacturing. Blue chip may also refer to a high-quality bond that is secure and stable in price and interest payments.
