The CNN Money Fear and Greed index showed a further increase in the overall fear level, while the index remained in the “Extreme Fear” zone on Monday.

U.S. stocks settled mixed on Monday, with the Nasdaq Composite falling more than 150 points during the session amid further gains in oil prices.

The S&P 500 recorded its fifth consecutive weekly decline, falling 2.1% during the week. The Nasdaq dipped 3.2%, while the blue-chip Dow fell 0.9% last week.

US President Donald Trump disclosed active negotiations with a "new and more reasonable" Iranian regime, while Fed Chair Jerome Powell downplayed the need for imminent rate hikes.

Compass Diversified Holdings (NYSE:CODI) shares jumped 15% on Monday after the company announced it will sell the food service business of its majority-owned subsidiary, SternoCandleLamp Holdings, to Archer Foodservice Partners.

On the economic data front, the Dallas Fed manufacturing index declined to -0.2 in March from 0.2 in the previous month.

Most sectors on the S&P 500 closed on a positive note, with utilities, consumer staples and financial stocks recording the biggest gains on Monday. However, industrials and information technology stocks bucked the overall market trend, closing the session lower.

The Dow Jones closed higher by around 50 points to 45,216.14 on Monday. The S&P 500 fell 0.39% to 6,343.72, while the Nasdaq Composite dipped 0.73% at 20,794.64 during Monday's session.

Investors are awaiting earnings results from McCormick & Company Inc. (NYSE:MKC), TD Synnex Corp. (NYSE:SNX) and Nike Inc. (NYSE:NKE) today.

What Is CNN Business Fear & Greed Index?

At a current reading of 8.7, the index remained in the “Extreme Fear” zone on Friday, versus a prior reading of 14.5.

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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