Interest rates and stocks

I have been investing in equities for about 6 years now. Yes, I haven't seen high interest rates. I have invested in Indian and US equities. High quality stocks from both geographies. My portfolio is in the red like everyone else's. My question is can you paint me a picture of what it would be like if Fed interest rates hit 4% ?

The reason I choose 4% is because I read somewhere that if inflation crosses 4% you've to increase interest rates to 4% to bring inflation back to desirable 2.5%.