The outcome of the Fed's FOMC meeting on Wednesday sparked a downdraft in stock and bond markets worldwide. Since Tuesday, the S&P 500 (^GSPC -0.01%) and the narrower, price-weighted Dow Jones Industrial Average (^DJI -0.32%) have both fallen around 3%. Meanwhile, volatility, as measured by the VIX Index (^VIX -0.67%) has shot up to its highest level year to date.

In the following video, Motley Fool contributor Alex Dumortier asks: Given markets' short-term reaction to the news, is the Fed's announcement detrimental to equity investors?