ML-Implode News - Market's early reaction to a Fed June rate hike is "NO!"

If the Fed is going to raise rates in June, it will have to get clearance from what has become its most important constituency: the market. The early returns have not been good. Stocks sold off sharply Wednesday afternoon following the release of a summary from the April Fed meeting, and the market followed that up Thursday with another sharp drop.
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"The Fed continues to prove their adeptness of getting market participants to continue to run from one side of the boat to the other," Brett F. Ewing, chief market strategist at First Franklin Financial, and S. Lance Mitchell, the firm's research director, said in a note.

"We continue to believe there is little to no chance of a rate hike in June and that the Fed minutes are akin to knowing you're being recorded and the need to say something one half the people will agree with while actually doing the thing with which the other half agrees."

Relevant:

Market's early reaction to a Fed June rate hike is "NO!"