CNBC Business News Update Market Close: Stocks Lower, S&P 500 Index Down 3% This Year, US Crude Oil Pushed Near $100 Per Barrel 3/13/26
Mar 13, 2026
Markets drift lower with the S&P down about 3% for the year and oil pushing near $100 per barrel. Discussion covers supply disruptions from Middle East tensions and security risks in the Straits of Hormuz. Reports highlight higher U.S. gas prices, a Q4 GDP revision, rising core inflation, and a preview of the Fed meeting and upcoming corporate earnings.
AI Snips
Chapters
Transcript
Episode notes
Market Has Given Back 2026 Gains
- The S&P 500 has erased its year-to-date gains, trading about 3% lower so far in 2026.
- Jessica Ettinger and Stephanie Link highlight broad sector weakness with many stocks down far more than the index average, signaling bargain hunting for long-term investors.
Look For Bargains With A Long Horizon
- Do look for bargains if you have a long-term horizon because many stocks are down far more than the S&P 500.
- Stephanie Link recommends acting despite uncertainty to capture opportunities created by recent sell-offs.
Oil Is Driving Market Sentiment
- Oil is the dominant driver of current market risk and has pushed investors to downgrade equities.
- Warren Pies noted the rates market and crude curve point to a longer period of oil-driven pressure, making next week crucial.