股市为什么年前跌？

中文段落：

每逢年末，许多投资者都会发现股市往往呈现出下跌的趋势。那么，为什么股市会在年前出现下跌呢？

首先，从宏观经济层面来看，年末通常是各大企业、机构进行财务结算和业绩考核的关键时期。为了完成年度财务目标和业绩考核，一些企业可能会选择在年底前进行财务调整，如减持股票等，这会对股市产生一定的冲击。

其次，从投资者心理层面来看，年末也是投资者进行资金调整、总结回顾和规划未来投资计划的重要时刻。一些投资者可能会选择在年底前卖出股票，以锁定利润或调整投资组合，这也会增加股市的抛压。

此外，年末市场流动性相对较弱，部分投资者可能因为资金需求或风险偏好降低而减少投资，这也可能对股市造成不利影响。

然而，值得注意的是，股市的涨跌受多种因素影响，年末下跌的现象并非绝对。投资者在面对股市波动时，应保持理性，综合考虑宏观经济、政策环境、公司业绩等多方面因素，制定合理的投资策略。

**英文段落：

Why Does the Stock Market Fall Before the Year-End?

Every year-end, many investors observe a downward trend in the stock market. So, what causes the stock market to decline before the year-end?

Firstly, from a macroeconomic perspective, the year-end is typically a crucial time for various companies and institutions to conduct financial settlements and performance evaluations. To meet annual financial targets and performance assessments, some companies may choose to make financial adjustments before the end of the year, such as reducing their stock holdings, which can have a certain impact on the stock market.

Secondly, from an investor psychology perspective, the year-end is also an important moment for investors to adjust their funds, review their performances, and plan their future investment strategies. Some investors may choose to sell their stocks before the end of the year to lock in profits or adjust their investment portfolios, which can increase the selling pressure on the stock market.

In addition, market liquidity is relatively weak at the year-end, and some investors may reduce their investments due to capital demands or reduced risk appetite, which can also have a negative impact on the stock market.

However, it's worth noting that the stock market's fluctuations are influenced by various factors, and the phenomenon of a year-end decline is not absolute. When facing stock market volatility, investors should maintain rationality, comprehensively consider macroeconomics, policy environments, company performance, and other factors, and formulate reasonable investment strategies.