At its most basic level, the stock market is a place where companies go to acquire capital to expand their businesses. With stock prices skyrocketing, to avoid disappointing investors, managers invested ever more in increasing production capacity. This eventually created so much excess capacity that even firms that had been making money began losing money.
股市本是企業集資以發展工商業之場所，由於各公司股價持續被炒高，經營者為了不辜負投資人的期望，不斷投資擴張導致生產過剩，賺錢的生意也就成了賠錢的生意。