As Trump predicted exactly two years ago today, we saw some bad things happen when they raised interest rates today:
"When they raise interest rates, you're going to see some bad things happen"
The hawkish Fed hammered growth stocks, yield sectors, and reflation stocks, across the board. Bonds rallied, yields fell.
Overall market assessment: "Policy error deja vu":
Heading into the meeting this week all things interest rate sensitive were getting shellacked:
Utilities:
Consumer Staples
Homebuilders
Now that the meeting is over and the rate hike is fait accompli, banks have lost their bid...
Large cap growth stocks rolling over into crash mode:
Semiconductors done
