Stocks took a beating this week as the Federal Reserve raised interest rates by another 75 basis points, the third consecutive hike of that magnitude.
It wasn't the rate move — which was anticipated by the market — but Fed Chair Jerome Powell's hawkish comments on Wednesday that hurt stocks.
It was the fifth losing week out of the last six for all the major stock averages, capped by another painful drop on Friday.
Also Wednesday, the Federal Reserve raised the federal funds rate by another 75 basis points while maintaining its hawkish tone.
ET: Personal Spending and Income (See here for a full list of the stocks in Jim Cramer's Charitable Trust is long.)