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

U.S. stocks settled lower on Wednesday, with the Dow Jones index dipping more than 750 points during the session as investors digested the latest economic data and comments from the Fed chief.

The Federal Reserve held interest rates unchanged at 3.50%–3.75% for the third straight meeting on Wednesday, as widely expected by market participants.

The FOMC statement noted that while economic activity has been expanding at a solid pace, job gains have remained low and inflation remains somewhat elevated.

In earnings, Jabil Inc. ( JBL ) stock fell around 1.4% on Wednesday after the manufacturing services provider delivered stronger-than-expected fiscal second-quarter 2026 results and raised its full-year outlook. Shares of Macy's Inc. gained around 5% after the company reported better-than-expected fourth-quarter financial results.

On the economic data front, U.S. producer prices increased 0.7% month-over-month in February compared to 0.5% in the previous month, and higher than market estimates of 0.3%.

All sectors on the S&P 500 closed on a negative note, with materials, consumer discretionary and consumer staples stocks recording the biggest losses on Wednesday.

The Dow Jones closed lower by around 768 points to 46,225.15 on Wednesday. The S&P 500 dipped 1.36% to 6,624.70, while the Nasdaq Composite declined 1.46% at 22,152.42 during Wednesday's session.

Investors are awaiting earnings results from Accenture Plc ( ACN ) , Alibaba Group Holding Ltd. ( BABA ) and FedEx Corp. ( FDX ) today.

What Is CNN Business Fear & Greed Index?

At a current reading of 18.4, the index remained in the “Extreme Fear” zone on Wednesday, versus a prior reading of 21.7.

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.