This has come as a shock to corporate treasurers at firms like Bristol Myers Squibb and US Airways, who piled into auction-rate debt assuming it to be safe.

• 这对百时美施贵宝公司（BristolMyersSquibb）、全美航空公司(USAirways)等公司是一个很大的冲击，它们曾认为风险较小而进入拍卖标价债券市场。