The CNN Money Fear & Greed Index showed a decline in overall sentiment among US investors.
US stocks posted losses on Thursday as investors assessed recent data that showed producer prices for final demand rose 0.7% month-on-month in January, the most in seven months. US jobless claims also declined to 194,000 for the week ended Feb. 11, down from the previous week’s revised level of 195,000.
shares of Tesla Inc TSLA It dropped 5.7% on Thursday and was down a further 1.9% in after-hours trading. The company on Thursday updated its full self-driving (FSD) beta software after regulators said the driver assistance system did not adequately comply with traffic safety laws and could cause accidents, according to a Reuters report. to recall more than 362,000 US vehicles.
On Thursday, the Dow lost nearly 431 points to close at 33,696.85. The S&P 500 fell 1.38% to 4,090.41 during the session, while the Nasdaq Composite lost 1.78% to 11,855.83.
Investors await earnings results AutoNation Inc One,
Deere & Company day And PPL Corporation ppl Today.
At the current reading of 69.0, the index remained in the “greed” zone as compared to the previous reading of 74.0.
What is the CNN Business Fear and Greed Index?
The Fear and Greed Index is a measure of the current market sentiment. This is on the grounds that high fear tends to put pressure on stock prices, while high greed has the opposite effect. The index is calculated on the basis of seven equally weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 indicates maximum greed.