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Record US China Yield Gap Tests Income as Asia Slides

Asian stocks sold off on Thursday after Wall Street slipped and crude stayed above $100 a barrel. The Hang Seng dropped 1.29% to 24,950 while the S&P 500 closed 0.48% lower at 7,636. At the same time the gap between US and Chinese 10 year yields hit a record 317 basis points, a level that now competes directly with cash paid by dividend stocks.