Exclusively for Pro Subscribers: Hedge Fund manager Dan Niles reveals his prediction for the S&P

Daniel Niles

John Chiala | CNBC

Hedge fund manager Dan Niles has revealed his outlook for the S&P 500 after the Federal Reserve hiked rates by 75 basis points for the third consecutive time.

The founder of The Satori Fund said he expects the index to drop from its most recent peak by the end of next year. The S&P 500 hit an all-time high of 4,797 in January this year and has fallen by more than 20% since then.

Subscribe to CNBC Pro to see Niles' prediction on the S&P 500, and how the bonds market will respond to the latest rate increases.

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