Investor Sentiment Decreases As US Stocks Fall For Second Straight Session

The CNN Money Fear and Greed index showed some easing in overall market sentiment after US stocks recorded losses for second straight session.

Wall Street recorded sharp gains in October, with the Dow climbing around 14% in October to notch its biggest monthly advance since January 1976.

The US Federal Reserve is widely expected to raise interest rates by 75 basis points on Wednesday.

Uber Technologies, Inc. UBER shares jumped 12% on Tuesday after the company reported better-than-expected Q3 sales results and Q3 monthly active platform consumers of 124 million, up 14% year over year.

CVS Health Corporation CVS, QUALCOMM Incorporated QCOM, Humana Inc. HUM and eBay Inc. EBAY are set to report quarterly earnings today.

The Dow fell 0.24% to close at 32,653.20 on Tuesday. The S&P 500 declined 0.41% to 3,856.10, while the Nasdaq Composite dipped 0.89% to settle at 10,890.85 in the previous session amid a decline in Amazon.com, Inc. AMZN and Apple Inc. AAPL shares.

At a current reading of 56.0, the index remained in the "Greed" zone, following a previous reading of 58.0.

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.