Watch the Nikkei these next few weeks & months. It could well spread. There's an anime called Jujutsu Kaisen (S2, E46) that has laid out a semi-fictional story on events. Predictive programming perhaps, given anime popularity in Japan. It mentions with detail that Japan is the first sign of cracks worldwide, showing in detail with charts the Nikkei to drop to 26,000. Currently the Nikkei is 38,403 so that would be ~40% drop in all equities there.

In such a scenario inflation of the Yen will accelerate as this spreads, which will prompt the Bank of Japan to sell even more U.S Treasury bills to defend their currency. That will in turn cause the Federal Reserve to start printing more dollars to buy back U.S T-Bills to defend the US dollar. This may cause in-fighting between countries to get more prevalent. And therefore we may see some distractions to mask all of this. Japan may be about to drag all other developed nations down with them.