What sequence of events would unfold when the first rate cut comes from the Fed?

Assuming that the Fed will cut rates sometime within a year from now, how would things change for different industries –

1. Stocks from which industries would, if at all, show sudden significant movements vs slow movements (not much change) –
   1. in up direction ?
   2. in down direction ?
2. If rate increases cause casualties, does rate decrease lead to any such business casualties if rate cuts happen suddenly/unexpectedly earlier ?
3. How long it might take this cut to reflect in government tbills and bond yields?