While the Federal Reserve raised interest rates by 75 basis points as expected on Wednesday, it signaled that it could ultimately raise rates beyond what the market was expecting. Short-term yields are higher in response Thursday, with the two-year US treasury yield up about 15 basis points.
The higher yields have led to another down leg for the stock market, particularly the interest-rate sensitive stocks such as technology. The tech-heavy Nasdaq 100 is underperfo...