The CNN Money Fear and Greed index showed a decline in overall market sentiment, while the index remained in the “Fear” zone on Thursday.

U.S. stocks settled mostly lower on Thursday, with the Nasdaq Composite falling more than 300 points during the session as oil rose sharply on fresh Persian Gulf tanker attacks.

President Donald Trump said he no longer wants a deal with Iran, while noting Tehran was willing to offer "anything to stop" the conflict.

On the economic data front, initial jobless claims fell 2,000 to 197,000 in the week ended Oct. 3, below the 200,000 forecast.

PepsiCo Inc. (NASDAQ:PEP) stock rose 3.7% on Thursday after the company reported better-than-expected third-quarter earnings and revenue. Pacira BioSciences Inc.  (NASDAQ:PCRX) shares jumped 44% after the company announced it will be acquired by Viatris.

Most sectors on the S&P 500 closed on a positive note, with energy, consumer staples and financial stocks recording the biggest gains on Thursday. However, information technology and consumer discretionary stocks were among the worst performers.

The Dow Jones closed higher by around 52 points to 51,231.64 on Thursday. The S&P 500 fell 0.47% to 7,765.36, while the Nasdaq Composite declined 1.25% to 27,193.34 during Thursday’s session.

Investors are awaiting earnings results from Delta Air Lines Inc. (NYSE:DAL) and New Horizon Aircraft Ltd. (NASDAQ:HOVR) today.

What is CNN Business Fear & Greed Index?

At a current reading of 38, the index remained in the “Fear” zone on Thursday, versus a prior reading of 42.

The Fear & Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.

Photo via Shutterstock