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Asia Stocks Slide Amid China Woes, Japan Catches Up On Chip Sell-Off

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Asian shares sank on Tuesday as worries about the Chinese property sector weighed on markets from Hong Kong to Australia, while Japanese investors sold chip stocks on their return from a holiday-extended weekend.

Benchmark U.S. Treasury yields hovered near 16-year peaks and the dollar held close to six-month highs as traders braced for a Federal Reserve rate decision on Wednesday, in a week that also sees policy decisions from the Bank of Japan and Bank of England, among others.

Crude oil continued its rally amid tightening supply, stoking worries about stagflation.

Read the full story on Reuters here.