The stock market slumped after the Federal Reserve signaled that the first rate hike could come earlier than expected. Bank stocks, however, have been rising.
When the Fed is expected to raise interest rates, it forces investors to lower their expectations for the economy, inflation, and other factors that impact the stock market. And that impacts the stock market. The
has dropped 0.8% at 4214.94, while the
Dow Jones Industrial Average
has slumped 312.63 points, or 0.9%, to 33,986.70, and the