CNBC Business News Update - Market Open: Stocks Lower, Dow Down 500 Points On Israeli Air Strikes On Iran, Black Boxes Recovered From Crashed Air India Boeing 787 6/13/25

Episode Date: June 13, 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 Edinger with CNBC. Wall Street plunging as investors react to escalating tension in the Middle East. Oil prices surging. We've got the Dow out of the gate down 505 points. That's more than 1%. Verizon shares leading it lower down 5%. The S&P 500 index down 40 points a half percent. It's still above 6,000. The NASDAQ down 158 points. That's eight tenths of 1%. Nvidia shares are down a little more than 1% right out of the gate this morning. There's a market reaction, obviously, in oil.

You see gold spiking. I think the markets are sort of in a wait-and-see mode to see if it's going to be contained gonna be contained or they're gonna be a further Escalation, but they'll watch it like the rest of us. They'll watch it day to day That's former Fed member and current Goldman Sachs vice chairman Robert Kaplan on CNBC Israel carrying out airstrikes against Iran killing Iran's most senior military official among others Israel said the attacks targeted locations that were related to the country's nuclear program. The U.S. has maintained it had nothing to do with it.

One take from Plurimi-Weltz, Patrick Armstrong on CNBC. You should be looking through this. I think Iran's in a very difficult situation that it can't respond proportionately. Iran would really be shooting itself in the foot if it actively disrupts supply chains through the Strait of Hormuz because it's getting its oil out to China through that strait. So I don't think this is something that is likely going to turn into a real economic shock. We're probably going to get back into a status quo and uneasy feeling where the Middle East is going to have these tensions.

U.S. crude oil spiked 13 percent on the attacks, its biggest daily price increase in five years before pulling back a little bit. Drivers could feel that at the pump in the coming weeks. AAA says the national average for a gallon of regular right now is $3.13. Watch Boeing shares again today. An Air India 787 Dreamliner Jet crashed shortly after takeoff yesterday in India, the first fatal crash of that popular wide-body plane model. You retract the flaps in the slats, right? We see in this video that the landing gear is still in the extended down position, right? So the flight data recorder can give you positions of the

flight controls, the position of landing gear. We can obviously see in this video that it's down. So you gather all this information and then certainly they will be able to put a complete picture together. That's Archer Aviations, Billy Archer on CNBC. He's a former FAA administrator. President Trump signaling he will protect migrant laborers working in the US in agriculture and in hospitality. These statements an official says sought to soothe leaders of those industries. AMD unveiling its latest AI chip the Instinct M1400 series. It'll ship next year and can be assembled

into full server racks, which deliver major computing power needed for AI. Facebook parent Meta, being told by the attorneys general of 42 states to crack down on financial scams on its Facebook that use famous people's images to lure in victims. Many of these ads show the likeness of Susie Ormond. It's U.S. Open Golf Round Two today in Oakmont, Pennsylvania and new in theaters.

Neon's The Life of Chuck, A24's Materialists and Universal and DreamWorks Animation's live action, How to Train Your Dragon. Jessica Edinger, CNBC. You come to my show and you learn how to do stocks. Mad Money, weeknight 6 Eastern, CNBC.