Will not directly lead to a decline in the stock index. This will only lower the price of futures contracts. But it may indirectly lead to a decline in the stock index. Because when you look at stock index futures, it will have a psychological impact.

This is the same as commodity futures. For example, someone sold a large number of empty orders in soybean futures. Will lead to a decline in soybean futures prices. However, the soybean price in the agricultural product market will not be directly affected. However, suppliers with soybeans will be more eager to ship when they see the decline in futures prices. Therefore, the spot price of soybeans will also be indirectly affected.