Global market double kill warning! Two major black swans ignite short positions frenzy.

1. Japan's interest rate hike storm strikes! The Bank of Japan decisively begins its tightening cycle, and the Nikkei index plummets in response, with borrowing rates soaring and directly draining global "yen arbitrage" capital liquidity—those hot funds lurking in the Japanese market to exploit the situation are forced to flee in a hurry, and global risk assets will face the impact of capital withdrawal!
2. Powell's "early departure" essay continues to ferment, and doubts loom over the market on the eve of his Tuesday speech! As the anchor of the Federal Reserve's policy, his unexpected exit is by no means a personal event, but a significant blow to the stability of the U.S. financial system. Market risk aversion has entered the eve of an explosion!