Since March 2020, U.S. Treasury bonds with long-term maturities, including 10-year and 30-year bonds, have suffered significant losses. Their price fell by 46% and 53%, respectively. 

This decline is approaching the losses that were observed in the stock market during the burst of the dot-com bubble. It is also worth noting that the current losses on bonds even exceed those that were in 1981, when the yield on 10-year bonds approached 16%.

Then the Fed was struggling with historically high inflation, and the rate was raised to about 20%. The difference is that at the moment the rate is significantly lower than this level.

Overall, U.S. stocks declined by 49% after the collapse of the dot-com bubble and by 57% after the 2008 financial crisis.