# 纳指

🚨 The market has crashed again!
The reason is simple: Japan's interest rate hike expectations have arrived 💥
The whole world is borrowing money using 0% interest yen to buy high-risk assets. Once the yen raises interest rates, this cheap money chain will break, and everyone will have to frantically sell assets to pay off debts.
In simple terms, it's a triple critical hit:
1️⃣ Interest becomes expensive — Loans that used to cost almost nothing now hurt more the more you borrow.
2️⃣ Yen Appreciation — You owe yen, and the yen has risen, which means your debt has effectively doubled.
Fo