Stocks Slide, Ugly Mood Returns As Traders Ask ''Did Anything Change'' Stocks Slide, Ugly Mood Returns As Traders Ask ''Did Anything Change'' The brief post-BOE euphoria has worn off, and risk-off sentiment returned to markets as concern about inflation and the global economy overshadowed the Bank of England’s desperate attempt to restore calm by restarting QE, exacerbated by more hawkish central bank talk and defiance by British PM Liz Truss''s tax plan (which has been slammed from the IMF all the way to the White House ). Treasuries resumed their slide with UK gilts, while US equity futures fell as European stocks extended a selloff that’s caused valuations to drop to their lowest since 2012. As of 730am, emini SP futures slid 0.7% to 3704, recovering from losses as big as 1.5% earlier. The dollar rose and Treasuries resumed their slump as investors focused on expectations the Federal Reserve will continue to deliver aggressive interest-rate hikes. The pound snapped a two-day gain and UK gilt yields rose as Prime Minister Liz Truss defended a giant package of unfunded tax cuts that sent markets into turmoil. “Other than the dollar, there are not many assets that are trading constructively, ” said Julia Raiskin, Asia-Pacific head of markets for Citigroup Inc. “ The markets are very pessimistic.