KOSPI down -5%, gold futures down -4%… doomsday coming?

How about this instead: Nikkei down -1%, and overall credit & CDS only widened 1–2bps. In contrast, we’ve seen a few pockets of real panic selling during recent Asia sessions.

For reference,

2024 yen carry unwind: credit widened 20–30bps

2025 Liberation Day 1: credit widened 30bps+

So don’t get shaken out, just chill and relax.