Typically rising interest rates put downward price pressure on mature stocks with high dividend yields in order to balance the risk/yield relationship. However, I agree with others who have pointed to an expectation of low interest rates for some time to come. You are seeing the world reel just from a slight tapering from the Fed. The world is still a financial glass house stabilized by cheap money. As long as the world default currency is the dollar any attempt by the Fed to raise interest rates considerably will be met with equity calamity. Unless the world economies can economically grow out of this we are headed to hyper inflation down the road or a massive pull back in equities 50% or more if the Fed decides that the pain is better than a worthless dollar.
Stay tuned and hide your gold well..
Rising interest rates always effects corporate borrowing, which in turn affects capitol improvements, repairs, slows growth etc
Divy's could possibly need to be looked at, depending on immediate needs by priority