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This property indicates the zero-based index of the currently selected item in the combo box list. Setting a new index raises the ComboBox.SelectedIndexChanged event.
ComboBox.SelectedIndex, ListControl.SelectedValue, and ListControl.FormattingEnabled are related as follows:
If ListControl.FormattingEnabled is false, ComboBox.SelectedIndex will not be set to -1 when ListControl.SelectedValue is blank.
If ListControl.FormattingEnabled is true, ComboBox.SelectedIndex will be set to -1 when ListControl.SelectedValue is blank.
To deselect the currently selected item, set the ComboBox.SelectedIndex to -1. You cannot set the ComboBox.SelectedIndex of a System.Windows.Forms.ComboBox item to -1 if the item is a data-bound item.