Word of the Day: Recoil

by Daniel Scocco

When you recoil (rĭ-koil’) from something you move away from it because it gives you an unpleasant feeling, disgust or pain. It can also refer to an object that bounces back or to an action that backfires.

Yet Bear Stearns, like many other firms on Wall Street, jumped into the market for bonds that backed subprime, or high-risk, mortgages, offering a slew of racy fund products, one of which hit the market last August, just before the markets began to recoil from subprime assets. (NY Times)