Stock Market Update
14-Sep-26 11:30 ET
Semiconductor weakness and rising oil pressure stocks
Dow -126.39
at 52446.90,
Nasdaq -114.83
at 26239.25,
S&P -29.95
at 7627.03
[BRIEFING.COM] The S&P 500 (-0.6%), Nasdaq Composite (-0.7%), and DJIA (-0.4%) are off their worst levels, though still firmly lower just before midday.
Stocks are under relatively broad pressure, with pronounced weakness across semiconductor stocks and higher oil prices providing two formidable headwinds to start the week. The top-weighted information technology sector (-1.7%) is firmly lower as the PHLX Semiconductor Index retreats sharply amid calls from notable figures across the AI industry to slow AI development over safety concerns. A solid gain in the IGV helps offset the weakness in semiconductors, while Meta Platforms (META 659.26, +11.23, +1.73%) and Alphabet (GOOG 342.04, +6.58, +1.96%) also move firmly higher, helping the communication services sector (+1.8%) move to the top of the sector leaderboard.
The defensive health care (+1.2%) and consumer staples (+1.1%) sectors also hold gains, while eight S&P 500 sectors trade lower.
Crude oil is off its earlier highs that exceeded $104 per barrel. However, geopolitical developments and their effect on inflation will remain in focus alongside Wednesday's FOMC decision, with markets widely expecting a 25-basis-point rate hike.
