The CNN Money Fear and Greed index showed a drop in overall sentiment among U.S. investors on Tuesday.
U.S. stocks closed lower on Tuesday amid the ongoing debt ceiling talks. Tuesday’s talks between both sides remained inconclusive.
Broadcom Inc. (NASDAQ:AVGO) shares gained over 1% on Tuesday after forging a multibillion-dollar deal with Apple Inc (NASDAQ:AAPL) to manufacture components in the U.S.
The Dow Jones closed lower by around 231 points to 33,055.51 on Tuesday. The S&P 500 fell 1.12% at 4,145.58, while the Nasdaq Composite fell 1.26% to settle at 12,560.25 during the session.
Investors are awaiting earnings results from Analog Devices, Inc. (NASDAQ:ADI), NVIDIA Corporation (NASDAQ:NVDA) and Kohl’s Corporation (NYSE:KSS) today.
At a current reading of 66.0, the index remained in the “Greed” zone, versus a previous reading of 70.0
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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