Market Close: Stocks Slide on Yield Pressure; Nvidia to Buy Back Shares • 9/28/26

CNBC Business News Update Market Close on Jessica Ettinger. Wall Street opening Tuesday morning after a down start to the trading week for the major averages. President Trump trying to get Americans to turn away from high oil prices and toward steel announcing a new steel plant in Iowa with Mesabi Metallics part of an India based conglomerate. Oil prices did tick slightly lower on Monday. The Dow is down 347 points more than a half percent. Shares of Boeing a drag on the Dow. They were down almost 7% on word of a software issue with Boeing 737 Max jets none flying in the US. The S&P 500 index down 59 points. That was 3/4 of a percent and the Nasdaq fell 248 points 9/10 of 1%. Yield on the 10-year Treasury hovering around 5.2 5.2 and a quarter percent. Shares of Nvidia higher after announcing a record stock buyback and a platform to rein in rogue AI agents to try to make AI safer. Nvidia was a bright spot. Most of the chip maker names were lower. All of this comes as we're learning of new open AI agent breakouts meddling with US government websites. Florida's attorney general asking for an emergency order to stop chat GPT development citing child safety as a concern. The US Iran war has started its eighth month. President Trump saying there won't be negotiations until after the midterms, but there's been buzz about some meetings happening this week. >> President has suggested that he doesn't see the prospect for a significant deal until after the midterm elections because the Iranians believe they can use the leverage of the election calendar against him. And while the president has said that he doesn't pay attention to the political calculus here, it does seem clear that the Iranians hope they can force enough political pain onto the administration to make Trump more eager for a deal. >> CNBC's Eamon Javers in Washington. American consumers have been handling higher prices for just about everything, but many have hit a tipping point. >> What we are starting to see within the consumer behavior is they're starting to be a bit more value conscious. So, not pulling back, continuing to be resilient, but there's definitely more of a value in their in the consumer's mind and what we're seeing in the data. >> Bank of America Institute's Liz Everett Chrisberg on CNBC. The White House has been considering some sort of diesel export ban to bring US diesel prices down instead of selling it overseas, but that may not work. Here's GasBuddy's Patrick DeHaan on CNBC. >> It certainly wouldn't be good news. This is the worst potential time to say don't produce as much diesel because we're going to flood the market. That in turn would then likely cause refineries to slow down how >> much oil they're refining and that feeds into the exact problem where we are today. Even if there is a diesel export ban, it will incrementally lower diesel prices at the expense of a surge contributing to higher gas prices. >> Monday was historic for SpaceX. >> Three, two, one. >> Elon Musk's company sending Starship successfully into orbit for the first time. It launched and deployed more than two dozen satellites, but fell short of orbiting the Earth six times. It was instead brought back or early. Starship will eventually be used for moon missions and more. On Tuesday's watch list, earnings are coming from Carnival and CarMax. We get the latest on job opportunities and labor turnover. Get the latest on home prices, new data on consumer confidence, the NHL season begins, and so do wildcard games in Major League Baseball. Jessica Ettinger, CNBC.