CNBC Business News Update Market Open: Stocks Lower, Dow Falling From Lowest Close Of The Year, New Middle East Attacks Push Oil Prices Higher 3/19/26
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Mar 19, 2026 Dan Murphy, CNBC correspondent reporting from the UAE on Middle East energy infrastructure. He describes recent strikes on regional energy sites and how they pushed Brent and U.S. crude prices higher. The show also covers the Dow slipping to a yearly low and rising pump prices across states. Short, timely market and oil-impact coverage from on-the-ground reporting.
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Markets Open Sharply Lower
- U.S. equity indexes opened sharply lower with the Dow at a fresh low for the year, driven by heavy losses in industrials like Caterpillar and tech such as NVIDIA.
- Jessica Ettinger reports the Dow down ~309 points, S&P down 54 points, and Nasdaq down 265 points at the open, signaling broad market weakness.
New Middle East Attacks Send Oil Higher
- Oil and gas prices spiked after the conflict entered a new phase with strikes on major regional energy infrastructure.
- Dan Murphy details strikes on Iran's South Pars and Qatar's Ras Laffan plus attacks on Saudi and Kuwaiti facilities, pushing Brent above $119.
Supply Shock From Damaged Energy Hubs
- Damage to major gas and LNG hubs and a closed Strait of Hormuz took roughly 20% of global oil and gas supply effectively offline.
- Dan Murphy warns repair timelines could be months, keeping prices elevated even if fighting stops.