The bottom could still fall of this stock market

For a while, the most likely outcome for equity markets in 2023 was a trading range. Now much worse scenarios are on the table.

Last week, the Dow Jones Industrial Average gained 376 points, or 1.2%, the

S&P 500 Index

ended up 1.4%, and the

Nasdaq Compound

increased by 1.7%. All three fell about 1% after the Federal Reserve raised rates by a quarter point on Wednesday.