"The CNN Fear & Greed Index sits at 13, indicating maximum pessimism, with six of the seven indicators flashing Extreme Fear. This level of fear has appeared on only about 3.4% of trading days since 2011."
"Even high-quality companies are being sold off. For instance, Apple reported revenue of $143.8 billion, up 16% year-over-year, yet its stock is trading at a TTM P/E of 31.22 amid market panic."
The CNN Fear & Greed Index indicates extreme fear in the markets, currently at 13. The S&P 500 has dropped 7% year-to-date, and the Nasdaq-100 is in correction territory. Investors are fleeing to safer assets, causing even high-quality companies to be sold off. Apple reported strong earnings with significant revenue growth, yet its stock is affected by the overall market panic. Microsoft shows a similar trend with solid financials but is also experiencing sell-offs amid the fear-driven market environment.
Read at 24/7 Wall St.
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