"It's a pretty broad-based sell-off on an increasing view that perhaps central banks are going to draw back from providing ever more easing," said RBC European economist Cathal Kennedy. "The BoJ and the ECB ...are questioning the effectiveness of their own policy. Add to this an increasing probability that the Fed will raise rates sooner rather than later. "The thinking is that if someone as dovish as she is starts talking like a hawk, people will notice. "Such risks led Wall Street's fear gauge, the VIX index , to its highest close since late June on Friday.

Source: Economic Times September 12, 2016 08:48 UTC