# September 13, 2026: Hormuz Meeting Postponed, Asia Stocks Fall on AI Concerns, More

An episode of [Bloomberg News Now](https://invisiblenetwork.ai/podcast/1701403307), 14 Sep 2026, 5:39.

Audio: https://podtrac.com/pts/redirect.mp3/tracking.swap.fm/track/UVBrz8bN8aM2Xe47PEPu/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/d9566f78-0464-4367-9dcc-b05700aeec6f/449aa39d-e7a0-4339-8232-b4c5003b7ed0/audio.mp3?utm_source=Podcast&in_playlist=7f880b3c-7f67-4b4b-b520-b05700af9172

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## Transcript

[0:01] Speaker 1: News when you want it with Bloomberg News Now. I'm
[0:03] Speaker 1: Doug Krisner. Crude oil prices are trading higher at this
[0:06] Speaker 1: hour in reaction to the closure of Saudi Arabia's East-West pipeline. Now,
[0:11] Speaker 1: this was done on Friday as a precautionary measure after
[0:15] Speaker 1: multiple attacks occurred on Thursday. At the same time, the
[0:18] Speaker 1: oil market is responding to word of a delay in
[0:21] Speaker 1: a meeting planned for Monday between Iran and several Gulf nations. Now,
[0:25] Speaker 1: the goal had been to create a temporary shipping lane
[0:28] Speaker 1: through the Strait of Hormuz. Axios is reporting that Saudi
[0:32] Speaker 1: Arabia submitted changes to the proposal on concerns it could
[0:36] Speaker 1: establish a new status quo, one that would not be
[0:39] Speaker 1: acceptable to other Gulf states. Here is Bloomberg's Stephen Stepchinski.
[0:44] Speaker 2: This is a waterway. It's shared by two countries. It
[0:46] Speaker 2: is not something that has had fees in the past.
[0:50] Speaker 2: And I think one of the sticking points, of course,
[0:52] Speaker 2: is the Trump administration. So they want free travel. They
[0:55] Speaker 2: don't want there to be a fee. And there are
[0:57] Speaker 2: also Gulf nations that in the region that also don't
[1:00] Speaker 2: want there to be a fee as well. Now, the
[1:03] Speaker 2: issue of the fee goes beyond just paying money. The
[1:06] Speaker 2: Iranian regime is sanctioned. So you have the likes of
[1:10] Speaker 2: Chevron or other big oil companies that are either U.S.-based
[1:14] Speaker 2: or in Europe or Western saying that they just can't
[1:16] Speaker 2: pay that.
[1:17] Speaker 1: That was Bloomberg's Stephen Stepchinsky. We've also been talking about
[1:21] Speaker 1: worries over artificial intelligence and calls for increased regulation. President
[1:26] Speaker 1: Trump and White House AI advisor David Sachs are defending
[1:29] Speaker 1: the administration's strategy of minimal regulation. That's after Anthropic CEO
[1:35] Speaker 1: Dario Amadei called for a slower pace of development for
[1:38] Speaker 1: most AI models. We're seeing chipmakers in South Korea decline
[1:42] Speaker 1: on the news, with shares in SK Hynix and Samsung
[1:46] Speaker 1: down by more than 5% each, and shares in SoftBank
[1:50] Speaker 1: are down by more than 10%, That's after OpenAI CEO
[1:53] Speaker 1: Sam Altman said the company will not go public this year.
[1:57] Speaker 1: SoftBank is slated to invest close to $ 65 billion in
[2:01] Speaker 1: OpenAI by October. We got a broader look at market
[2:04] Speaker 1: action from Vasu Menon. He is Managing Director of Investment
[2:08] Speaker 1: Strategy at OCBC.
[2:11] Speaker 3: The question is whether you'll see more and more of
[2:14] Speaker 3: the hyperscalers and perhaps, you know, some of the frontier
[2:16] Speaker 3: labs coming out and saying that as well. Now, if
[2:19] Speaker 3: they say that, then, you know, the markets will have
[2:22] Speaker 3: to readjust its assumptions about AI KPEC spending. Because right now,
[2:27] Speaker 3: the markets are very bullish on AI KPEC spending. for 26,
[2:31] Speaker 3: 27 and 2028. And so, you know, if more companies
[2:36] Speaker 3: come out and, you know, inject caution into the market,
[2:39] Speaker 3: then those assumptions could be tested. And as a consequence,
[2:42] Speaker 3: you could see some degree of digestion taking place, you know,
[2:46] Speaker 3: in the AI space.
[2:47] Speaker 1: That was Vasu Menon, Managing Director of Investment Strategy at OCBC.
[2:51] Speaker 1: We go to the US Open next, where German tennis
[2:54] Speaker 1: star Alexander Zverev defeated Ben Shelton in four sets, to
[2:58] Speaker 1: win the men's singles championship. Here is the call from
[3:02] Speaker 1: ESPN on ABC.
[3:05] Speaker 4: At long last, Alexander Zverev has his title.
[3:12] Speaker 1: He doesn't know it's over. Yes, he can now celebrate.
[3:16] Speaker 3: He was so locked in.
[3:19] Speaker 1: Zverev, the major force in men's tennis for 2026. This
[3:24] Speaker 1: is the second Grand Slam title for Zverev. President Trump
[3:27] Speaker 1: says he'll remove tariffs on Irish whiskey.
[3:30] Speaker 4: Everybody's been bugging me.
[3:31] Speaker 3: This ain't what you do me a favor. It's so
[3:34] Speaker 3: unfair what's going on. Could you possibly take the tariffs
[3:38] Speaker 3: off of Irish whiskey?
[3:44] Speaker 1: Now, Trump was speaking after the Irish Open. By the way,
[3:47] Speaker 1: Irish whiskey and other goods from the European Union are
[3:50] Speaker 1: generally subject to a 10 percent tariff. under an adjusted rate.
[3:54] Speaker 1: That's after the Supreme Court struck down President Trump's earlier levies. Meantime,
[3:59] Speaker 1: the president has warned Ukrainian President Volodymyr Zelensky to stop
[4:03] Speaker 1: targeting oil refineries in Russia. Now, we know that Russia
[4:06] Speaker 1: and Ukraine have increasingly targeted each other's energy infrastructure, and
[4:11] Speaker 1: those attacks, in turn, have caused damage to refineries. Meantime,
[4:15] Speaker 1: a sanctions bill on Russia will get a vote in
[4:17] Speaker 1: the House this week after clearing the Senate last month.
[4:21] Speaker 1: More from Bloomberg's Nathan Hager in Washington.
[4:23] Speaker 4: Senators overwhelmingly backed the bill as a tribute to its author,
[4:27] Speaker 4: the late Senator Lindsey Graham. But it had faced growing
[4:29] Speaker 4: opposition in the House and from business groups on concerns
[4:33] Speaker 4: it could expand President Trump's tariff powers and drive up
[4:36] Speaker 4: oil prices. The bill would authorize up to 100 percent
[4:39] Speaker 4: tariffs on the top five buyers of Russian energy and
[4:41] Speaker 4: supporters of Russian sanctions evasion. A source tells Bloomberg the
[4:45] Speaker 4: House will take up the legislation under a rule that
[4:48] Speaker 4: requires only a simple majority to pass. In Washington, I'm
[4:51] Speaker 4: Nathan Hager, Bloomberg Radio.
[4:53] Speaker 1: The Fed has an interest rate decision on Wednesday. Earlier today,
[4:56] Speaker 1: President Trump said again the U.S. should be paying the
[5:00] Speaker 1: lowest interest rate in the world. And at the same
[5:03] Speaker 1: time today, the director of the National Economic Council, Kevin Hassett,
[5:06] Speaker 1: said the White House will fully support the decision made
[5:10] Speaker 1: by Fed Chair Kevin Walsh and the committee. Here is
[5:13] Speaker 1: Hassett speaking on CNN's State of the Union.
[5:16] Speaker 4: President Trump 100% respects the independence of Kevin Walsh. He
[5:20] Speaker 4: understands that he's a man of honor who will look
[5:22] Speaker 4: at the data and then drive the committee to the
[5:24] Speaker 4: right decision.
[5:25] Speaker 1: That is NEC Director Kevin Hassett speaking on CNN's State
[5:28] Speaker 1: of the Union. And that is News When You Want
[5:31] Speaker 1: It with Bloomberg News Now. I'm Doug Krisner and this
[5:33] Speaker 1: is Bloomberg.

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