WS #13301
US and Japan jointly intervene to support yen, yen jumps to ~155-156, Nikkei -1.9%, Kospi -4.5% on yen strength and memory-chip leverage unwind. Apple warns of 'very significant' component shortages, stock falls ~10%, losing ~$500bn market cap, worst day since 2020.
Yen Intervention and Asian Market Selloff
US and Japan jointly intervene to support yen, yen jumps to ~155-156, Nikkei -1.9%, Kospi -4.5% on yen strength and memory-chip leverage unwind.
Apple warns of 'very significant' component shortages, stock falls ~10%, losing ~$500bn market cap, worst day since 2020.