A zero percent interest rate pushed money into the market fo...

A zero percent interest rate pushed money into the market for a real return. Anywhere else, money is being crushed in value due to inflation.

With no interest rate, debt makes you money at this rate. Added with retail investors dumping money into the market, companies and assets are being propped up with cheap money

Once interest rates go up, companies with high debt are going to be punished since that will cost them money.

Wild, speculative markets like EV are going to be crushed. Companies with no income and high speculative growth will come down. Essentially, fundamentals are going to matter again.