The week is still young with 2 long days to go. Hard to say how the 0.75% rate hike will be digested -- with the previous 0.5% rate hike stocks went up and then down the next day or vice versa -- anyway, one can't always judge from the initial reaction, which BTW today was a quick plunge after the 2 pm announcement then a quick rise and fall in the next half hour, and then basically more wiggling to close a little higher than where it was just prior to the announcment.

S&P 500 futures up 0.42% at 1204 AM ET Thursday as I type this (a modest everday sort of magnitude)

https://finance.yahoo.com/quote/%5EGSPC?p=%5EGSPC

As I said in the above post, the last rate hike the market initial reaction and the next day reaction were different. This is looking like the case again --

At 1007 AM ET - Dow, S&P 500, and Nasdaq are down 2.17%, 2.74%, and 3.48% respectively. In point terms, Dow is down 664 points to 30,004 -- just 5 points away from 29,999,

Stock market news lives updates: Stocks slide amid renewed recession concerns, Emily McCormick, Yahoo Finance, 6/16/22
https://finance.yahoo.com/news/stock-market-news-live-updates-june-16-2022-114840208.html

If the Dow had fallen by the same percentage as the S&P 500, it would be down 995 points!

S&P 500 now down 23.6% from its Jan 3 all-time high. Its at 3667.

The last close before Inauguration Day was 3799, so its down 3.5% from that point.

I switched 14.5% of my liquid financial net worth from a bond fund to a stock fund today. I realize I may be quite a bit early, and that it may be many years, and maybe even enduring a recession first (we've already had 1 quarter of negative GDP growth), for it to get back to where it was, but the historic track record of buying equities when they are down is stellar.
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html

I can't live on just Social Security. My other regular income is a FIXED DOLLAR annuity whose purchasing power is melting away with inflation -- 8.6% eroded away in just 1 year (and purchasing power never "bounces back", it just erodes further, though hopefully not at this rate).