CNBC Business News Update - Market Open: Stocks Slide, Oil Higher, AI Slowdown and Rate Hike in Focus • 9/14/26

Episode Date: September 14, 2026

CNBC Business News Update with Jessica Ettinger - Markets & Business News With Expert Analysis From Top Business Names. Visit CNBC.com For More. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

CNBC Business News Update Market Open. I'm Jessica Eddinger. Major average is all in the red to start this new week of trading. Investors weighing calls for an AI slowdown, sparking a global AI tech selloff. Oil's higher, a Fed interest rate increase looms. We've got the Dow out of the gate down 160 points. It's being led lower by shares of Caterpillar, which are down more than 5% this morning. The S&P 500 index down 55 points. The NASDAQ falling 316 points. It's almost 1.5% most of the chip makers in the red. You've got Intel down 7% micron pulling back 6%. AMD down 5.5%. The Fed meets tomorrow and Wednesday on interest rates. The announcement Wednesday afternoon. Here's a take from Seaport Research's Patrick Palfrey on CNBC.

The rate hike is certainly a foregone conclusion. If we look out into what the market's expecting, we're expecting two rate hikes over the course of the year. The question is whether or not it's going to be disrupted, the stock prices. And when we see hikes, there's typically a bump in the road. But the question is what's going to happen longer term? What is the pace of economic growth in the underlying trajectory? All of that still remains quite strong. So longer term, we don't see an impact to equities, but certainly a hike is on the table.

It will happen. Microsoft setting limits for future AI models. As the industry throttles frontier style development, OpenAI's Sam Altman, Anthropics Dario Amode and Elon Musk, all warning that AI is moving too fast. Altman's saying, quote, we could lose control. President Trump says there should be no slowdown in AI because China is forging ahead. Whoever wins AI wins. And we can put guardrails.

We can do this and that. But I think you have a lot of negative forces that are bringing it up. That shouldn't be bringing it up. And they're bringing up things that won't happen. But whoever wins with AI wins. Oil higher today. U.S. crude now above $103 a barrel, the world benchmark crude at 108. Saudi Arabia shut down a pipeline that's been used to bypass the dangerous Strait of Hormuz after the pipeline was attacked and damaged. It was carrying about 7 million barrels of oil a day.

Exactly a month ago on August 13, when oil price were at $81, I said that the market was treating inventories and supplies from things like the SPR as though that was normal. production and the market just forgot to do math. They were listening to headlines out of Washington for President Trump saying everything's fine and not counting the barrels and not looking at the actual physical market. I think today's oil price at 107 brand 103 WTI is still the wrong price. It is still too low. That's TWG Global's Amos Huxstein on CNBC. Americans are paying even more at the pump today. $4.31, according to AAA for the national. average, up 15 cents a gallon for regular in just the last week, with diesel fuel at a record high nationwide. Social Security recipients could see their biggest increase in monthly payments

in three years as inflation soars. USA Today says that using the August inflation data, next year's estimated cost of living adjustment or COLA could be about three and a half percent. The final number for 2027 will come on October 15. 15th after the September inflation data are out. Warner Brothers Practical Magic 2 toppled Sony's Spider-Man brand-new day and took the number one spot at the weekend box office. Spider-Man had been number one for six straight weeks. Television's biggest night is tonight the industry celebrates with the primetime Emmy Awards.

HBO's The Pit is the most nominated series. Jessica Eddinger, CNBC.