Relation between rate hike and stcoks falling is that :-

if rates are increased , there will be tightening in liquidity to companies.so investor will think that they might face some difficulty in getting working capital. so investors will book the profits and came out from the market.

Now in current case Fed told that they will hike rate in june, stocks fallen drastically. and again they told two days later that rate hike will take place later the year........so stocks went uppp.....