Fed Rate Impact On Market

The FED is expected to increase interest rate this year and the market is feeling the jitters right now with $SPDR S&P 500 ETF(SPY.US)$ dropping close to 3% from its peak in the past 1 month and Nasdaq 100 $NASDAQ(NASDAQ.US)$ shedding close to 6% in the same period!
Are investors like you and me in trouble now? Should we sell off our stocks before the market crashes? If you want to find out the answer then keep on watching!