Market Midday: Stocks Lower, Iran Fighting Resumes, Bessent Weighs In Ahead of Fed Meeting • 8/31/26

CNBC's midday market update covers renewed Iran fighting pressuring stocks, with major indexes still higher for August. Treasury Secretary Scott Bessent pushes back on Fed rate hikes, citing a supply shock and restrained core inflation, while Apollo's Torsten Sløk expects a September hike and more to follow. Corporate movers include GameStop's preliminary Q2 results, Chevron gains, and Alphabet declines. - Renewed Iran fighting is pressuring stocks midday, but major indexes remain on track for August gains. - Treasury Secretary Scott Bessent sees a supply shock and restrained core inflation as reasons not to rush rate hikes. - Apollo chief economist Torsten Sløk expects a September Fed hike followed by several more hikes. - Sløk says markets will begin pricing a multi-hike Fed path. - GameStop is up on preliminary Q2 results despite lower net sales, with operating and net income expected to jump. - Chevron leads Dow gainers while Alphabet is the biggest Dow loser.