Actually, if the stock market goes down, investors pull money from equities and invest in bonds, pushing interest rates down.
Most Main Street equity investors are invested long term, in retirement accounts. They can withstand a dip in equity returns.
Lower interest rates more directly impact Main Street, they help the housing market, which helps construction, appliances, etc. Lower interest rate and a strong housing market strengths the economy more quickly.
Mortgage rates are below 7%
Mortgage rates drop as investors seek bond market safe haven