1. baotuan shares rose for two consecutive years, and the income reached an alarming height, resulting in overvaluation and shrinking liquidity into the expected valuation adjustment. 2. The yield of US bonds rose sharply, which led to the diving of US stocks and European stocks, which in turn led to the diving of A shares. 3. Capital flows from the north. 4. The valuation is too high. In order to prevent bubbles, the central bank reduced its support for leading industries.

Will the fund fall next? The investment market is uncertain, and no one can be sure whether it will rise or fall tomorrow, but we can judge the next trend of the fund according to the general trend: the possibility of the fund falling next is still very high. The income of medicine, new energy, science and technology, liquor and other sectors has reached 120% to 150% in recent two years. The double growth has led to overvaluation, and the market is still there. Secondly, the panic caused by the US debt, the market needs time to digest short-term concerns, leading to the recent situation will be turbulent.