No, the general idea is that people took out 0%/ low interest loans in yen to buy assets. The rates went up and a bunch of people sold, causing a 12% drop, but then it went back up 10% the next day.
There are other things going on, like the jobs report in the US, but that was the big thing.
If it means anything, my parents have been going to a lot of specialists lately as they age and have had issues, and it’s pretty much the same story: