According to CME Group “FedWatch”: Will the Fed’s next rate hike be more aggressive, will the recent stock market rally be over?

According to CME Group “FedWatch”:

The probability of the Fed raising interest rates by 25 basis points in May is 36.1%, the probability of raising interest rates by 50 basis points is 63.9%, and the probability of raising interest rates by 75 basis points is 0%;

The probability of a 25 basis point rate hike by June is 0%, the probability of a 50 basis point rate hike is 2.6%, the probability of a 75 basis point rate hike is 38.1%, and the probability of a 100 basis point rate hike is 59.3%.

How does this affect the U.S. stock market? What do you think?