Global stocks and government bonds plunge with the MSCI World Index dropping by 2.95%, the DOW by 4.68%, the S&P 500 by 3.88%, STOXX Europe 600 by 2.41%, Japan's Nikkei 225 by 3.01%, Hong Kong's Hang Seng by 3.99%, and South Korea's KOSPI by 3.52%. Bitcoin drops by 12.1% and Ethereum by 13.6%.