Cashin: Watching for China's 'Bear Stearns moment': "Traders are monitoring whether China's first corporate bond default in 17 years could trigger a forced liquidation and cause a "Bear Stearns moment" there, UBS' Art Cashin told CNBC on Thursday.
"What happens is when you can't sell what you want to sell, you sell whatever you can to raise money, including your grandmother's necklace," Cashin said on "Squawk on the Street." "Those kinds of forced liquidations tend to spill over.""
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