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Analysts warned that a stronger Japanese yen and a rapid unwind of the yen 'carry trade' could trigger a broader stock selloff, with high-valuation U.S. technology and AI-related names seen as particularly vulnerable. The warning highlights how currency market dynamics tied to Japanese monetary policy could spill over into global equity markets. The concern adds to a list of macro risks investors are monitoring alongside Fed policy expectations and Middle East tensions as potential catalysts for volatility in tech shares.