Hedge fund titan David Tepper said Thursday the Federal Reserve is sending the market a message, and it's not a good one.

A day after the Fed raised interest rates for the fourth time this year, the influential investor made the following points in an email to Joe Kernen and CNBC's Squawk Box:

"1. Powell basically told you the Fed put is dead. 2. Everyone is tight. Chinese money growth plummeting. ECB cutting the last of QE. And Fed still in tightening mode. 3. The net biggest issuance of Treasuries and worldwide fixed income is coming next year. Something is going to get crowded out. Bonds stocks etc. 4. Oh and there is this trade war question. I think we should be having a fight with China on different issues. But it is not conducive to confidence. Freezing some worldwide activity. 5. Cash is not so bad."

The Dow Jones Industrial Average dropped by 350 points to a new low for the year on Wednesday after the Fed hiked its benchmark rate, the ninth such increase since 2015. Fed Chairman Jerome Powell indicated the the central bank would stay the course with hiking at least two times in 2019 and that it would continue to shrink its balance sheet at the same pace, another monetary tightening action.

"The Fed doesn't care about the stock market within 400 SPX (S&P 500) points," Tepper added in the email. "It's the real economy stupid."