The CNN Money Fear and Greed index shower further rise in the fear level after Wall Street closed lower on Monday.
The Dow Jones fell into a bear market on Monday, while the S&P 500 recorded a fresh closing low level for the year.
The British pound tumbled to a record low level versus the U.S. dollar on Monday. The 10-year Treasury yield also climbed to its highest level since 2010.
Macau casino stocks, including Las Vegas Sands Corp LVS, Melco Resorts & Entertainment Limited MLCO and Wynn Resorts, Limited WYNN, rose on Monday after Macau officials signaled that COVID-19 travel restrictions will be lifted.
The Dow dropped 1.11% to close at 29,260.81 on Monday. The S&P 500 fell 1.03% to 3,655.04, while the Nasdaq Composite declined 0.60% to settle at 10,802.92 in the previous session.
Investors are now awaiting earnings results from Jabil Inc. JBL, TD SYNNEX Corporation SNX and United Natural Foods, Inc. UNFI, scheduled for release today.
At a current reading of 17.0, the index remained in the "extreme fear" zone, following a previous reading of 19.0.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.