Investors brace for recession, more mkt turmoil after Fed's supersized hike

The S&P is down 22.2% year-to-date and is in a bear market

Investors' faith in a soft landing for the U.S. economy is being heavily tested, as a jumbo-sized interest rate hike from the Federal Reserve stirs worries over recession and more volatile trading ahead.

Analysts and investors said they believe a recession is more likely after the Fed at the close of its policy meeting on Wednesday hiked rates by 75 basis points, its biggest raise in nearly three decades and committed to delivering more big moves to fight surging inflation.

While stocks rallied on hopes that the Fed is willing to go all out in fighting the worst inflation in more than