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The CNN Money Fear and Greed index showed a decline in the overall sentiment among US investors.
US stocks dropped sharply on Tuesday amid concerns over higher interest rates. The benchmark 10-year Treasury yield increased to 3.9%, while the 2-year rate rose to 4.7% during the session.
The Fed is scheduled to release the minutes from its recent meeting on Wednesday.
Home Depot Inc HD shares fell more than 7% on Tuesday after the company reported worse-than-expected Q4 sales results.
The Dow closed lower by around 697 points to 33,129.59 on Tuesday. The S&P 500 fell 2% to 3,997.34, while the Nasdaq Composite dipped 2.50% to settle at 11,492.30 during the session.
Investors are awaiting earnings results from TJX Companies Inc TJX, Baidu Inc BIDU and NVIDIA Corporation NVDA today.
At a current reading of 62.0, the index remained in the “Greed” zone, compared to a previous reading of 69.0.
What is CNN Business Fear & Greed Index?
The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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Image and article originally from www.benzinga.com. Read the original article here.