CNN Money Fear & Greed Index falls to 28 as stocks decline

  • CNN Money Fear and Greed Index declined while U.S. stocks closed lower Tuesday.
  • 28 marked the index reading, down from 31 and remaining in the Fear zone.
  • Federal Reserve traders priced roughly a 92% chance of a 25-basis-point hike Wednesday.

The CNN Money Fear and Greed Index fell to 28 from 31 on Tuesday, remaining in the Fear zone as U.S. stocks closed lower. The Dow Jones dropped about 328 points to 52,093.11, while the S&P 500 declined 0.45% to 7,585.73 and the Nasdaq Composite fell 0.78% to 25,981.57. The retreat came as the 10-year Treasury yield moved above 5% and crude oil rose past $105 a barrel. Traders assigned roughly a 92% probability to a 25-basis-point Federal Reserve rate increase on Wednesday, which would be the first hike since July 2023. Most S&P 500 sectors finished lower, led by consumer discretionary, consumer staples and utilities, while energy and materials advanced. Forgent Power Solutions Inc. shares gained about 10% after strong fourth-quarter results and fiscal 2027 guidance above estimates, and Radiant Logistics Inc. shares climbed more than 19% after better-than-expected fourth-quarter results. The New York Fed’s Empire State Manufacturing Index fell to 7.6 in September from 20.6 in August, below the market estimate of 14.75. Investors are awaiting earnings from Lennar Corp. and LuxExperience BV-ADR. The index measures market sentiment using seven equally weighted indicators on a scale from 0, representing maximum fear, to 100, representing maximum greed.

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