In 2007, mortgage defaults around the country sparked a crash in the high-risk sub-prime mortgage market, creating the worst recession in 70 years.

2007年，全国各地住房抵押贷款违约引发了高风险的次级房贷市场崩溃，造成了70年来最严重的经济衰退。

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This is the reason that the foreclosure crisis is spreading from the subprime segment of the mortgage market to the Alt-A and prime segment.

这是为什么房屋抵押赎回危机迅速的从房产抵押市场的次级信贷部分蔓延到中级信贷部分和优质信贷部分。

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The sub-prime mortgage loan crisis happened in US since last summer has maintained its effects on the US stock market, financial system, overall economic performance as well as the rest of the world.

美国股市自去年夏天以来一直保持着次级抵押贷款危机，整个金融体系的表现一直影响着世界其他地区。

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One reason is that the country's banks were relatively unexposed to the US sub-prime mortgage market.

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Unlike other European countries, it has a big non-prime mortgage market too.

ECONOMIST: The global economy

But when the sub-prime mortgage market turned sour, the darling of the financial markets became the Black Hole equation, sucking money out of the universe in an unending stream.

FORBES: Black-Scholes Didn't Cause the Financial Crash