PrintDow Falls Around 400 Points Following Inflation Data: Investor Sentiment Declines, Fear & Greed Index Remains In 'Greed' Zone
BY Benzinga | ECONOMIC | 04:08 AM ESTThe CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the “Greed” zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the Dow Jones index falling almost 400 points during the session.
The Consumer Price Index rose 2.7% year over year in December, matching both the prior reading and economist estimates. Notably, core CPI came in at 2.6% year over year, slightly below expectations.
On the earnings front, shares of JPMorgan Chase & Co.
Delta Air Lines Inc.
Most sectors on the S&P 500 closed on a positive note, with energy, consumer staples and real estate stocks recording the biggest gains on Tuesday. However, consumer discretionary and financial stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 398 points to 49,191.99 on Tuesday. The S&P 500 fell 0.19% to 6,963.74, while the Nasdaq Composite slipped 0.10% at 23,709.87 during Tuesday's session.
Investors are awaiting earnings results Bank of America Corp
At a current reading of 56.3, the index remained in the “Greed” zone on Tuesday, versus a prior reading of 58.6.
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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