There was big, big bad news on Wednesday.

“Senior government officials in China” warned that the country may slow or halt purchases of US Treasuries.

China, which owns more than $1 trillion in US debt, could cause America’s interest rates ­to increase dramatically and bond prices to collapse if it follows through on that threat.

And, as I recently wrote, that could annihilate the decades-long bond-market bubble — and it won’t be good for stocks either.

And China could get even tougher. Instead of just stopping its purchases of US debt, it could start selling some of the paper it has.

Is China really thinking of slowing or halting bond sales? Or is that country simply showing Washington who is boss? We will see.