The CNN Money Fear and Greed index showed almost no change in the overall market sentiment, while the index remained in the “Fear” zone on Wednesday.

U.S. stocks settled lower on Wednesday, with the Nasdaq Composite dipping more than 1% amid surge in Treasury yields.

Within Magnificent Seven stocks, Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) sank 3.8% and Amazon.com, Inc. (NASDAQ:AMZN) fell 2.2% amid renewed scrutiny of AI-hyperscaler debt issuance.

Hopes for a breakthrough in U.S.-Iran talks in New York had briefly pushed crude below $100 a barrel earlier in the session, but officials signaled the talks fell short of any deal.

Cintas Corp (NASDAQ:CTAS) reported upbeat earnings for the first quarter and raised its FY2027 guidance on Wednesday. General Mills Inc (NYSE:GIS) reported better-than-expected earnings for the first quarter.

On the economic data front, the volume of mortgage applications declined by 1.5% in the third week of September, compared to a 4.1% drop in the previous period.

Most sectors on the S&P 500 closed on a negative note, with communication services, utilities and consumer discretionary stocks recording the biggest losses on Wednesday. However, energy stocks bucked the overall market trend, closing the session higher.

The Dow Jones closed lower by around 352 points to 51,511.60 on Wednesday. The S&P 500 dipped 0.75% to 7,706.03, while the Nasdaq Composite declined 1.13% at 26,936.04 during Wednesday’s session.

Investors are awaiting earnings results from Darden Restaurants Inc (NYSE:DRI), TD Synnex Corp (NYSE:SNX) and Costco Wholesale Corp (NASDAQ:COST) today.

At a current reading of 35, the index remained in the “Fear” zone on Wednesday, versus a prior reading of 35.

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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