Stocks are flying high, hitting new highs a day after another. Everything looks perfect for the long US bull market. Moreover, recent event, such as BREXIT, catalyzes the money inflow to the US market. However, the sudden exposure to the outflow of capital in Europe, has created the massive vaccum of capital in Europe. Especially for Deutch bank, its stock price is 40% lower than 2009 low (financial crisis).
Europe is facing a critical moment this year. Market pessimists argue that the global financial crisis is iminent. There could be a correction due to the sudden outflow of capital in Europe but not to the extent of financial crisis. Clearly, the US market is on the track of the long bull market.
Rate hike is not much of a concern. In fact, rate hike is a positive factor to the market because it indicates that the US economy broadely global economy is recovering. It could impact the market for a day or two but not much.