Market Midday: Stocks Slide, Dow Loses 500 Points, Oil Moves Higher • 9/8/26

Summary

CNBC's midday update covers a risk-off session with major averages lower and oil prices climbing on Middle East hostilities. Scott Wapner highlights Goldman's $120 oil scenario, while Jeff Curry argues refined product shipments from the Gulf are effectively blocked. The update also touches on tariff politics, AI caution, and corporate headlines from AstraZeneca and Sony.

• Major averages are lower; the Dow is down over 500 points with the S&P 500 and Nasdaq also negative.
• Oil prices climb, with WTI near $94 and Goldman cited as seeing $120 if Middle East tensions escalate.
• Jeff Curry says gasoline and diesel tankers are too dangerous to move through Hormuz, so refined products are not getting out.
• Yields are up and CPI is looming; the market prices 60% odds of a 25 basis point hike.
• Canada's retaliatory tariffs begin, and Akin partner Kellyanne Shaw calls the US economic impact muted.
• AstraZeneca's COPD drug posts two late-stage trial wins.
• Sony's Spider-Man: Brand New Day leads the box office for a sixth straight week.