The day of the rate decision, what really blew up was the bond market. The 30-year US Treasury yield jumped 10 basis points, hitting above 5.2%, the highest since 2007; the 10-year yield rose above 4.67%. After all three dissenting votes were against and the hike proceeded, the probability of a rate hike in September on the CME was pushed to above 57% at one point. The sell-off in stocks looks more like pricing in the bond market being passed through.