CNBC Business News Update - Market Close: Stocks Lower, Frontier Trolls Southwest, Wendy's Frostys To Go BIG 3/18/25

Episode Date: March 18, 2025

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored by CNBC's Jessica Ettinger.

I'm Jessica Ellinger, CNBC. Wall Street opens Wednesday morning for the final day of winter trading after a sell off for stocks on Tuesday. The Dow down 260 points, more than a half percent led lower by shares of Nvidia which tanked 3%. The S&P 500 index was down 60 points, that was more than 1%. The NASDAQ fell 304 points, 1.7 percent. Tesla shares dropped more than 5 percent on Tuesday. The Fed will announce a decision on interest

rates Wednesday afternoon. It's widely expected to hold them steady. According to our own CNBC Fed survey, the street unanimously expecting the Fed to continue its pause and cuts for the March meeting, the decision coming amid broad market weakness and weak economic data points like consumer sentiment and retail sales. In fact, the Atlanta Federal Reserve is now forecasting a 2.1% decline in growth for the first quarter. That's far below Wall Street consensus. That's CNBC's Sarah Eisen.

Gold hit a new all-time high on Tuesday, $3,045 an ounce. It's 13th record high for the year. The Trump administration rehiring tens of thousands of workers across 18 departments who were fired in the Doge purge. This after several court orders ruled that the firings were illegal. Many people getting back pay,

others still being paid on administrative leave. Frontier Airlines taking a swipe at Southwest on the day Southwest stops flying bags for free Frontier will start a divorce your old airline promotion and will fly your checked bags for free and more. Free checked bag, free assigned seats, free ticket change if you need to change your tickets. Why not make this a permanent move? Why is this only promotional through August? Well, look, the bottom line is, is this a game changer for us? We're going to offer you more for less.

But if we don't get the volume, then we're going to come back to just being a level playing field. But either way, this is a checkmate situation for Frontier. Everyone can now see, millions of people can see that we're a better total price. Because we've seen what's happened in all of the outcry for free bags we're giving people an opportunity to put their money where their mouth is and come make frontier the new airline. Barry Biffle joining us from Frontier's headquarters in Denver. CNBC's Phil LeBeau with the CEO of Frontier Airlines.

Wendy's is competing with McDonald's, Burger King and more by focusing on value and dessert. We're in a challenging environment. How does Wendy's win in this environment? We're going to introduce an entire frosty platform with frosty fusions, frosty swirls. Those things are the easy moments of joy. Yes. Would you agree? I'm wondering how many calories. Are you a frosty fan? I want to know how many calories are in a thin mince frosty. I guess you don't do it for that reason. As many as you need. That's how many are in there. It's delicious. Wendy's CEO Kirk Tanner on CNBC with CNBC's Sarah Eisen and Mike Santoli. Solo Brands says it could file for bankruptcy protection. Retail Dive is reporting the maker of stainless steel backyard fire pit solo stoves issued a going concern statement related to debt. The company also makes clothing. It's chubbies. Men's short shorts are still selling but the overall company is struggling. The Federal Trade Commission going after an e-commerce company that allegedly took

millions of dollars from people who fell for a passive income scheme. It promised to spin up storefronts on Amazon, Walmart, and more on their behalf, and then promised insane returns. Click Profit advertised on TikTok under names like FBA Launch, Automation Industries, and Portfolio Launch. On Wednesday's watch list, we get the Fed decision on interest rates

and earnings from General Mills, Cignet Jewelers and Five Below. Jessica Edinger, CNBC.