The CNN Money Fear and Greed Index showed a slight rise in fear levels among US investors after US stocks ended mixed at the start of the holiday-shortened week.

Investors assessed the economic outlook for 2023, sending the Nasdaq index down more than 1% on Tuesday.

Tesla, Inc. TSLA Shares fell more than 11% on Tuesday after a Reuters report indicated the company intended to run a reduced production schedule at its Shanghai plant in January, raising concerns over demand.

shares of Southwest Airlines Co. LUV was also down around 6% after the airline canceled thousands of flights, which officials came under scrutiny for.

The Dow closed about 38 points higher on Tuesday at 33,241.56. The S&P 500 fell 0.40% to 3,829.25, while the Nasdaq Composite slipped 1.38% to settle at 10,353.23 in the previous session.

At a current reading of 38.0, the index remained in “fear” territory compared to a previous reading of 39.0.

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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