Fear & Greed Index Remains In 'Extreme Greed' Zone After Dow Falls 100 Points

The CNN Money Fear and Greed index remained in the "Extreme Greed" zone on Wednesday.

U.S. stocks closed lower for the third straight session after rallying last week.

Amazon.com, Inc. AMZN shares fell 0.8% on Wednesday after the FTC filed a lawsuit against the company over its Prime sign up and cancellation process.

FedEx Corporation FDX shares dropped 2.5% after the company reported fourth-quarter revenue miss. The company also issued FY24 outlook which missed the consensus estimate.

The Dow Jones closed lower by around 102 points to 33,951.52 on Wednesday. The S&P 500 fell 0.52% at 4,365.69 , while the Nasdaq Composite lost 1.21% to settle at 13,502.20 during the session.

Investors are awaiting earnings results from Commercial Metals Company CMC, Accenture plc ACN and Darden Restaurants, Inc. DRI today.

At a current reading of 79.0, the index remained in the "Extreme Greed" zone, versus a previous reading of 79.0

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.

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