A: In fact, the plunge of individual stocks has little to do with shorting the futures index, mainly because it has risen too high. How did the "mad cow" get mad? Where did the money come from? The problem is "leverage". You have 6,543,800,000 yuan of funds, which can be melted into 2 million yuan in the brokerage firm, which is twice the leverage; In the "off-exchange fund-raising", you can get 4 million, 5 million, or even 6.5438+million, that is, you have a leverage of up to ten times. With so much money in the stock market, can it not go up? Let's act in unison, maybe it will go up for a while. But once someone sells the stock and puts the money in a bag, there is a reason to go down. If there are more sellers, the trouble will come, and the high-ranking stocks will be caught. Moreover, if the price falls by 15%, people will inform you to increase the "margin". If there is no money to increase, people will force the liquidation when it falls to about 20%. It's not his stock anyway. At the clearing line, he is not welcome! At this time, no one often dares to take over, so more and more people will close their positions (that is, "short positions"). No main force dares to buy, but the seller is waiting in line there, so it is not surprising that the limit is down. Stock index futures contribute to the rise and fall, not the root cause.