Not suggesting this will actually happen, but if the current trend continues at the same rate

It never does. Markets move periodically - early slow change, mid-point rapid change, tail slow change - for the most part. Nevermind that a 62% sell-off raises the question of “Who is selling?” versus “Who is buying?” Dollars are still far too cheap for a plunge that steep.

A short period of time before the Iran war started, I pulled all my money out of the market and am 100% in CDs now.

CD rates are shit right now, thanks to low interest rates.

You’d be better off in utilities or REITs. US energy companies have done very well in the wake of the Hormuz straight closure. I dropped a bunch into United Healthcare recently, thanks to their bargain basement price. Doubt it’ll pay off soon. But I see a healthy upside long term.