Asia Markets: Asian stocks pull back on U.S. tech declines, eurozone worries

Stock selling eased in the Asia-Pacific region Wednesday after overnight declines in the U.S. and Europe on worries the European Central Bank would reduce monetary stimulus.

ECB chief Mario Draghi hinted at a reduction of its ultra-easy policies as the continent’s economy has shown signs of acceleration this year.

“As the eurozone recovery continues to gather momentum, markets are gradually turning their view to the growing likelihood of a change in policy stance,” said Rob Carnell, an economist at ING.

The comments sent equities and the dollar lower, with the euro jumping the most versus the greenback in a year. Sovereign-debt yields also jumped.

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