Dow Tumbles Over 300 Points: Investor Sentiment Declines, Fear Index Remains In 'Greed' Zone
agilon health inc AGL | 0.00 | |
Fluor Corporation FLR | 0.00 | |
McDonald's Corporation MCD | 0.00 | |
Plains All American Pipeline, L.P. PAA | 0.00 | |
US Foods Holding Corp. USFD | 0.00 |
The CNN Money Fear and Greed index showed a decline in overall market sentiment, while it remained in the “Greed” zone on Thursday.
U.S. stocks settled lower on Thursday, with the Dow Jones index falling more than 300 points during the session as investors assessed developments between the US and Iran.
In earnings, McDonald's Corp. (NYSE:MCD) reported higher first-quarter earnings and sales on Thursday. US Foods Holding Corp. (NYSE:USFD) posted downbeat first-quarter 2026 results. Agilon Health Inc (NYSE:AGL) shares jumped 118% on Thursday after the company reported better-than-expected first-quarter financial results and issued second-quarter sales guidance above estimates.
On the economic data front, U.S. construction spending increased by 0.6% month-over-month in March compared to a 0.2% declined in the previous month. U.S. nonfarm business sector labor productivity surged by 0.8% in the first quarter following a revised 1.6% gain in the previous quarter. U.S. initial jobless claims climbed by 10,000 to 200,000 in the last week of April. U.S. unit labor costs in the nonfarm business sector rose by 2.3% in the first quarter.
Most sectors on the S&P 500 closed on a negative note, with materials, energy and industrials stocks recording the biggest losses on Thursday. However, communication services and information technology stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 314 points to 49,596.97 on Thursday. The S&P 500 fell 0.38% to 7,337.11, while the Nasdaq Composite fell 0.13% at 25,806.20 during Thursday's session.
Investors are awaiting earnings results from Fluor Corp. (NYSE:FLR), Plains All American Pipeline LP (NASDAQ:PAA) and Wendy’s Co. (NASDAQ:WEN) today.
What Is CNN Business Fear & Greed Index?
At a current reading of 67.6, the index remained in the “Greed” zone on Thursday, versus a prior reading of 68.5.
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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