Historically, in the 1970s and early 80s, inflation seemed very bad for stocks. Single digit p/e ratios. I'm not clear on whether it would be the same today. One argument might be that most of the stock market capitalization is so globalized these days that devaluing the US dollar shouldn't have much effect on revenue.

In other words, maybe US stocks would constitute a safe haven currency too. But I can't say I'm confident of that.

Unless you expect other countries to be in the same (or even worse) situation...