Looks like the previous talk of inflation had peaked is no longer valid. Chances of 0.5 hike in Sept will be high. In fact, if a 0.75 hike is being propose for June, I will not be surprised. But let's hope this will not happen for 15th June FOMC. Because if this really happens, the market will fall even further. Fed is now stuck in a tough position. They cannot slow down in their hike/QT to take care of the falling market. They cannot increase too fast because this might cause the economy to suffer due to rising rates. Most likely Fed will persist on hike as they have already warned about incoming "pain" and they also have the trust issue. They cannot flip flop on their hike decision else people will no longer trust Fed. So the way forward now is for Fed to persist on their hike or even be more aggressive. There is no longer any alternatives to slow down. Looks like the market forward will continue be tough. Brace for more declines.