FS KKR Capital (NYSE:FSK) investors have endured significant market volatility over the past two weeks as the stock fell toward lows last seen in early May 2024. I assess that the market was unnerved by the anticipated decline in interest rates, which could affect the forward trajectory of its net investment income per share. In addition, the significant market selloff triggered by the unwinding of the yen carry trade also battered FSK, as investors likely took risks off the table across the market. In my previous bullish FSK article, I highlighted the stock's relative outperformance and undervaluation against its peers.