"The recent synchronized selloff in stocks and bonds has crushed one of the most popular strategies for long-term investors: the 60/40 portfolio.

According to data from strategists at Bank of America Global Research published last week, the 60/40 portfolio — a mix of 60% stocks and 40% bonds — was down 19.4% year-to-date through the end of August, on track for its worst year since 1936." Yahoo Finance

And things are getting worse: DOW down another 500 today - down 8000+ for the year.
The only "bright spot" are the I bonds paying 13.28% compounded monthly- and you can't buy the old type anymore.