Editors’ Picks: How Japan’s yen carry trade crashed global markets

Plus: What Iran might do next. AUGUST 8, 2024  |  [VIEW IN BROWSER](  |  [SUBSCRIBE](     [A man looks at an electronic quotation board displaying Nikkei 225 stock prices on the Tokyo Stock Exchange in Tokyo on Aug. 6. ]( A man looks at an electronic quotation board displaying Nikkei 225 stock prices on the Tokyo Stock Exchange in Tokyo on Aug. 6. Kazuhiro Nogi/AFP via Getty Images [1]( [How Japan’s Yen Carry Trade Crashed Global Markets]( An obscure strategy wreaked short-lived havoc. By William Sposato   [2]( [What Iran Might Do Next]( As the Middle East braces for further escalation, what are Tehran’s options? By Ravi Agrawal   [3]( [The Problem With El Salvador’s Crime Numbers]( Bukele’s government has been undercounting homicides since its 2022 crackdown. By Jeremy Giles   [4]( [The U.S. Can Do More to Prevent an Israel-Iran War]( Genuine pressure on Israel and Hamas to enact a Gaza cease-fire could dial down tensions across the region. By Comfort Ero   [5]( [Why Nixon’s Resignation Echoes Today]( An act of massive historical weight failed to cure ills that still afflict the body politic. By Julian E. Zelizer [FP @ UNGA79]( [Join FP]( in New York City, where we will engage a range of experts and leaders for frank discussions on the challenges and collaborative solutions needed to address pressing global issues.   [Top International Relations Schools]( We asked over 1,000 experts to rank undergraduate, master's, and Ph.D. programs around the world. The 2024 results are in. [SEE THE RANKINGS](   [Facebook]( [Twitter]( [Instagram]( [LinkedIn]( You’re receiving this email at {EMAIL} because you signed up for FP's Editors' Picks newsletter. [MANAGE YOUR EMAIL PREFERENCES]( | [VIEW OUR PRIVACY POLICY]( | [UNSUBSCRIBE]( Interested in partnering with FP on events, podcasts, or research? [Explore FP Solutions](. [Foreign Policy]( is a division of Graham Holdings Company. All contents © 2024 Graham Digital Holding Company LLC. All rights reserved. Foreign Policy, 655 15th St NW, Suite 300, Washington, DC, 20005.