Japanese stocks saw their worst day today since 1987 as Japan’s currency soared to a seven-month high against the U.S. dollar — triggering a selloff in global stocks.
Why it matters: There’s an unwinding of the popular “yen carry trade” happening “at lightning speed” that will continue to cause volatility until it’s over, Art Hogan, chief market strategist at B. Riley Wealth, tells Axios.
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