But stock market declines that are not accompanied by steep and persistent collapses in earnings are by their nature temporary: they are provoked by steep rises in perceived risk, and if those risks turn out to be overblown, stocks rebound when the perception of risk falls.
但没有伴随着收益急剧崩溃、一蹶不振的股市下跌从本质上讲是暂时的：它们是由感知到的风险急剧升高而引发的。如果最后证实那些风险是被夸大了，那么当所感知的风险回落时，股票就会反弹。