With the integration of large-scale renewable energy and various new types of loads, the stochastic fluctuation characteristic of the power has seriously affected the secure and stable operation of interconnected power grids. In addition to active power fluctuations of AC tie-lines that have been studied in the past, the problem of dynamic fluctuation of bus voltage is also increasingly prominent. Firstly, the typical power fluctuations of electric railway traction load, smelting load, and wind power generation in modern power systems are presented and the accompanying voltage fluctuations are analyzed. Secondly, the dynamic fluctuation mechanism and distribution characteristic of the system voltage under special forced oscillation and generalized forced oscillation are studied. It is found that when the periodic disturbance induces a special forced oscillation, the voltage fluctuation has the same mode information compared to the power angle fluctuation. And it also has obvious peak characteristics near the natural frequency. When the stochastic disturbance induces generalized forced oscillation, the voltage fluctuations can be decomposed into proportional and resonant components according to its frequency domain characteristic. Finally, the above conclusions are verified by the simulation results of an IEEE 4-generator 2-area system.