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Watch the video and read the news for November 2, 2011. Learn current news and study American English pronunciation.
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Wall Street and Greece

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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.

The Dow Jones Industrial average, sometimes called The Dow Jones or simply The Dow, was created in 1896 by Charles Dow and his business associate, Edward Jones. The index shows how thirty large, publicly owned, U.S. based companies traded in the stock market during a standard trading session. It is one of several indices that track stock market activity.

 



Words to Study

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"

* in the word "average," the second A reduces. It sounds more like a short I because of the move from R to J, though a standard reduction is to the short U sound. You can think of it as "A-ver-ij" or "A-ver-uj"--whichever way helps you pronounce the reduction.

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