Price dropped cause the Japanese govt raised interest rates. A lot of American hedge funds borrowed yen at 0% interest,and now have to pay it back or the interest......
https://www.reuters.com/markets/asia/what-is-yen-carry-trade-2024-08-07/
https://www.investopedia.com/what-the-carry-trade-had-to-do-with-monday-stock-market-rout-8690861
Hijacking for the x post.
Very fun win.