Tonight, keep an eye on the impact of the Japanese yen exchange rate breaking below 162 on U.S. stocks. 162 isn’t just any level—it’s the weakest point for the yen since 1986, a critical threshold rather than an ordinary position. If Japan intervenes in the exchange rate by selling U.S. dollars and Treasuries, yen shorts could be forced to cover, carry trades might deleverage, and this could potentially lead to selling off U.S. stocks, credit bonds, emerging market assets, crypto assets, and other risk assets. Overall, this is a structural, trend-driven bearish signal. While it’s not a sudden event, the fact that it officially broke below this level today is still worth paying attention to. This content is sponsored by @BITstocks_CN. Buy U.S. stocks on BIT—over 16,000 U.S. stocks and ETFs, real holdings, and enjoy dividend payouts.