Debt-based stampede is generally a situation in which bonds invested in debt-based companies default, resulting in a large number of losses of bond funds. Relatively speaking, bond funds are more stable than stock funds, but when the financial environment deteriorates, the risk of bond funds will increase.

Bond funds mainly invest in bonds, and bond risks mainly lie in default risk (bond issuers can't repay the principal and interest on time), interest rate risk (interest rate rises, bond prices fall) and purchasing power risk (inflation leads to currency purchasing power decline).