Selloff gathers pace as stimulus pullback fears deepen

Trade was driven by revived prospects of the U.S. Federal Reserve hiking rates next week, and concerns that the European Central Bank and the Bank of Japan may be slowing their monetary policy easing efforts. "The BoJ and the ECB ...are questioning the effectiveness of their own policy. Earlier, Asian shares suffered their sharpest setback since June as investors were rattled by rising bond yields and talk that U.S. rates might rise as early as next week.