Global Share Sell-off Hits Asia After Wall St, Europe Losses

HONG KONG (AP) — A global stock market sell-off pulled shares lower in Asia on Wednesday as investors grew cautious following losses on Wall Street sparked by a delayed health care vote. Upbeat comments by European Central Bank President Mario Draghi about prospects for the 19-country eurozone were taken as a hint that policy change may be in the pipeline even though he did not mention plans to dial back stimulus measures. Market watchers also noted that she didn't say anything to contradict earlier statements about plans to gradually remove stimulus and raise rates if economic conditions continue to improve, indicating those plans are still on track. MARKET INSIGHT: "The net effect of last night's speeches by Yellen and Draghi has been to reinforce a view that markets are now embarking on a phase of global policy tightening with the ECB potentially moving faster relative to the Fed than many had expected," Ric Spooner, chief analyst at CMC Markets, said in a commentary. The delay added to investor worries about political gridlock and what it could mean for President Donald Trump's plans for health care reforms and other economy-boosting measures.