The CNN Money Fear and Greed Index remained in the “fear” zone at the start of the bank holiday-shortened week.
US markets closed lower on Tuesday as investors digested the latest data on services sector. The ISM services index rose to 56.9 in August from 56.7, while the S&P Global Services PMI slipped to 43.7 in August from a preliminary reading of 44.1.
Concerns about the ongoing energy crisis in Europe and the Covid-19 lockdowns in China also impacted overall market sentiment on Tuesday.
Investors are waiting for the Fed Chairman Jerome Powell Speech on Thursday to look for clues related to interest rates.
That dow down 0.55% to close at 31,145.30 on Tuesday. That S&P500 fell 0.41% to 3,908.19, while the Nasdaq Composite Down 0.74% to 11,544.91 in the previous session, amid a decline in shares, including apple inc AAPL and Amazon.com, Inc. AMZN.
With the current reading at 41.0, the index remained in “fear” territory, unchanged from the previous reading.
What is the CNN Business Fear & Greed Index?
The Fear & Greed Index is a measure of current market sentiment. It is based on the premise that higher fear puts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equally weighted indicators. The index ranges from 0 to 100, with 0 representing maximum fear and 100 representing maximum greed.
