Futures contracts for the S&P 500 declined as much as 1.1% in early trading while those for the tech-heavy Nasdaq 100 sank even more. Treasury yields slipped across maturities as investors sought the safety of fixed income assets. Oil fell to near the lowest since September as weak economic data from China compounded a dour outlook for demand. A gauge of the dollar declined for a sixth consecutive day, the longest losing streak in a year, as confidence in further US economic outperformance faltered. The movement marks an abrupt about-face for the Treasuries market, where the dominant driver of the last few years had been the surprising resilience of the US economy even as growth weakened overseas.“It’s getting harder to make out the shape of the economy through the fog of Trump 2.0’s firings and tariffs,” said Ed Yardeni, president of YardenI Research. The thinking being that Trump will ditch policies if the stock market — which he touts as a report card — drops and rattles investors.