What is the impact of financial deleveraging on the stock market? It is easy to cause the stock market to fall, especially for sudden deleveraging. If there is too much leverage in the stock market, there will be potential risks. Therefore, it is particularly important to maintain market stability through supervision and control. The lever crisis between financial levers is a major manifestation of financial crisis. For example, in the financial crisis of 2008, the subprime debt held by non-commercial banks and financial institutions in the United States collapsed, which initially led to the problem of leverage transmission between financial institutions, and finally led to the rapid expansion of loss multiples, leading to the global financial crisis. Generally speaking, the funds that gave birth to the big bull market in the early stage mainly came from the over-the-counter fund-raising and high leverage of margin financing and securities lending. When the leverage ratio of market investors is too high and the scale is too large, the process of deleveraging will inevitably have a greater impact and impact on the market. In addition, the equity pledge of listed companies will also face a greater cash flow impact when it expires, and the pressure of its credit risk collapse is also increasing.