The CNN Money Fear and Greed Index moved into “neutral” zone after a decline in U.S. stocks on Thursday.

Major US indexes posted losses for the fourth straight day on Thursday, with the Dow Jones turning negative for the year.

PacWest Bancorp PACW Shares fell more than 50% on Thursday after a report suggested the bank might be weighing strategically options. The company later confirmed reports the bank was reviewing strategic options and allayed concerns about their health.

Investors also digested the Federal Reserve’s monetary policy decision as the central bank hiked interest rates by 25 basis points on Wednesday. Nonfarm payroll data for April will be released today at 8:30am ET.

The Dow Jones closed about 287 points lower at 33,127.74 on Thursday. The S&P 500 fell 0.72% to 4,061.22, while the Nasdaq Composite fell 0.49% to settle at 11,966.40 during the session.

Investors await earnings results from Warner Bros. Discovery, Inc. WBD, Johnson Controls International plc JCI And The Cigna Group AI Today.

With the current reading at 53.0, the index has moved into “neutral” territory from a previous reading of 58.0

What is the CNN Business Fear & Greed Index?

The Fear & Greed Index is a measure of current market sentiment. It is based on the premise that higher fear puts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equally weighted indicators. The index ranges from 0 to 100, with 0 representing maximum fear and 100 representing maximum greed.

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