美元和日元之间的差别很大，影响了日本的股票市场。日本银行的美元流动减少，危机导致日本许多证券的关闭。顾客们从银行取钱。银行无法偿还贷款，他们从中央银行贷款。崩盘和泡沫在有效市场假说中扮演着重要的角色。有效市场假说认为，由于股票市场的效率导致现有股票价格反映并吸收所有相关信息，因此不可能击败市场。股票在市场上以公允价值交易，这使得投资者不可能以虚高的价格出售股票或购买被低估的股票。国家政府实行规章制度来规范股票市场。
市场崩溃和泡沫在有效市场假说中起着至关重要的作用。股票市场的泡沫始于股票价格的上涨。投资者以较高的价格购买股票，以期获得高回报。投资者期望以更高的价格卖出股票，当股票价格持续上涨时，会导致影响投资者的损失。羊群效应的错误定价是市场泡沫和崩溃的主要原因。狭窄的框架和代表的偏见导致了市场泡沫和崩溃，因为当天真的市场参与者参与时，交易行为会影响股票市场。
The difference between US dollars and Japanese Yen is huge which affects the stock market of Japan. The flow of dollars in Japanese banks decreases and the crisis leads to the closure of many securities in Japan. The customers withdraw their money from banks. The banks are not able to pay out money, and they take a loan from central banks. Crashes and bubbles play a significant role in the efficient market hypothesis. The efficient market hypothesis states that it is not possible to beat the market as the efficiency of the stock market causes the existing prices of stock to reflect and incorporate all relevant information. The stocks trade in the market at their fair value which makes impossible for the investors to sell stock at inflated prices or purchase undervalued stocks. The government of the countries implements rules and regulations to regulate the stock market.
Market crashes and bubbles play a crucial role in the efficient market hypothesis. Bubbles in the stock market start with an increase in the price of stock. The investors purchase the stock at a high price with the view of high returns in the future. The investors expect to sell the stock at higher prices and when there is a continuous increase in the stock prices, it leads to losses that affect the investors. The mispricing effects of herding are a major reason for market bubbles and crashes. Narrow framing and representatives’ bias contribute to market bubbles and crashes because the trading behaviour affects the stock market when naive market participants are involved.