Dollar rips, stocks tumble after FOMC Minutes

The next month suddenly got a lot more interesting with the FOMC Minutes signalling that a hike could come June 15.

The stock market doesn't like it and is now challenging the April low of 2034. The intraday low nearly matched it, although there has been a 4 point bounce.

If the stock market wants to guarantee there won't be a hike in a month, all that needs to happen is a 50 point drop in the S&P 500.