The CNN Money Fear and Greed Index showed a further rise in fear among US investors as stocks fell in volatile trading on Wednesday after the Fed hiked interest rates by 75 basis points.

The Fed also indicated that rates will rise into next year. Big tech stocks including Apple AAPL, Amazon AMZN and meta platforms META all recorded losses on Wednesday.

The Dow fell 1.70% to close at 30,183.78 on Wednesday. The S&P 500 fell 1.71% to 3,789.93, while the Nasdaq Composite fell 1.79% to 11,220.19.

Investors are now awaiting the earnings results of Accenture plc ACN, FedEx Corporation FDX and Costco Wholesale Corporation COSTSshould be published today.

With a current reading of 31.0, the index remained in “fear” territory after previously reading 34.0.

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.