verb.
Simple past tense and past participle of abstract.
WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
adjective.
lost in thought; showing preoccupation
Word Usage
"What caused credit to freeze as the TED spread (which should be about 50) went up to nearly 300 last fall, and is still hovering near 100, is the leveraged speculation that pervaded every form of financial transaction — ALL of it abstracted from the actual production of stuff … like houses, which have a value in themselves."