The CNN Money Fear and Greed Index showed fear levels rising after the S&P 500 posted a new 2022 low.
shares of apple inc AAPL down 4.9% Thursday after B or A securities downgraded the stock to neutral from buy and lowered its price target to $160 from $185.
A better than expected jobless claims report also did not help market sentiment as initial jobless claims fell 16k to 193k in the week ended September 24, the lowest since late April.
That dow fell 1.54% to close at 29,225.61 on Thursday during the S&P500 declined 2.11% to 3,640.47, marking a new closing low for the year. That Nasdaq Composite down 2.84% to settle at 10,737.51 in the previous session.
The major US media stocks are about to post losses for the month, with the Dow and S&P down about 7.3% and 7.9% respectively in September.
Investors are now awaiting the earnings results of Carnival Corporation CCL and CIRCOR International, Inc. CIRshould be published today.
With a current reading of 16.0, the index remained in the extreme fear zone after a previous reading of 18.0.
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.
