The stock price isn't dropping because people care about a rate hike, per se -- it's the fact that EBAY is scrambling to meet unrealistic earnings expectations in a market that has reached a plateau. They can't raise prices every quarter. In fact, they can't raise prices at all without losing some market share, particularly among the many sellers who work on razor-thin margins there.
And the ripple effects with YHOO and GOOG are all about the unrealistic expectations for stunning earnings. Quarter after quarter after quarter.