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The CNN Money Fear and Greed index showed an increase in the overall fear level, while the index moved to the “Extreme Fear” zone on Tuesday.
U.S. stocks settled lower on Tuesday, with the Nasdaq Composite dipping around 2% during the session as investors interpreted the latest batch of corporate earnings as solid but not spectacular, offering a convenient excuse to take profits after strong year-to-date rallies.
Palantir Technologies Inc. (NASDAQ:PLTR), one of the poster children of this year’s AI-fueled rally, slumped around 8% despite easily beating Wall Street estimates and raising its full-year guidance. Analysts indicated that the stock’s 170% surge in 2025 has prompted some sell-the-news behavior.
Uber Technologies Inc. (NYSE:UBER) was another major drag on Wall Street, falling over 5% after its latest earnings release disappointed investors.
On the economic data front, the Logistics Manager’s Index came in unchanged at 57.4 in October, matching the previous month’s reading.
Most sectors on the S&P 500 closed on a negative note, with communication services, consumer discretionary and information technology stocks recording the biggest losses on Tuesday. However, consumer staples and financial stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 251 points to 47,085.24 on Tuesday. The S&P 500 dipped 1.17% to 6,771.55, while the Nasdaq Composite declined 2.04% to 23,348.64 during Tuesday's session.
Investors are awaiting earnings results from McDonald’s Corp. (NYSE:MCD), Qualcomm Inc. (NASDAQ:QCOM) and Humana Inc. (NYSE:HUM) today.
What is CNN Business Fear & Greed Index?
At a current reading of 22.5, the index moved to the “Extreme Fear” zone on Tuesday, versus a prior reading of 28.8.
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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