Nasdaq Tumbles Over 500 Points After Inflation Data: Investor Sentiment Weakens Further, Greed Index Remains In ‘Fear’ Zone

On Wednesday, the Nasdaq Composite fell over 500 points, closing down 1.88% at 26,692.87, following a hotter-than-expected September inflation report which showed a 3.7% year-over-year increase. The S&P 500 also declined by 1.11% to 7,718.94, while the Dow Jones dropped around 49 points to 51,621.48. Bank of America Corp. saw its stock decrease by approximately 5% after reporting disappointing third-quarter results. The CNN Money Fear and Greed index dropped to 32, indicating a continued sentiment of 'Fear' among investors.