Investor Fear Increases After Nasdaq Drops Over 1%

The CNN Money Fear and Greed index showed a slight increase in the fear level among US investors after US stocks closed mixed at the start of the holiday-shortened week.

Investors assessed the economic outlook for 2023, sending the Nasdaq index down by more than 1% on Tuesday.

Tesla, Inc. TSLA shares dipped more than 11% on Tuesday after a Reuters report indicated the company was intending to run a reduced production schedule in January at its Shanghai plant causing concerns over demand.

Shares of Southwest Airlines Co. LUV also dropped around 6% after the airline canceled thousands of flights, which drew scrutiny from officials.

The Dow closed higher by around 38 points to 33,241.56 on Tuesday. The S&P 500 fell 0.40% to 3,829.25, while the Nasdaq Composite declined 1.38% to settle at 10,353.23 in the previous session.

At a current reading of 38.0, the index remained in the "Fear" zone, compared to a previous reading of 39.0.

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.

Read This Next: Walmart, Schlumberger And 2 Other Stocks Insiders Are Selling

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPre-Market OutlookMarketsTrading IdeasAirlinesCNN Business Fear & Greed IndexIndustrials
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!