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

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Previously titled “Hormuz Meeting Postponed, Asia Stocks Fall on AI Concerns, More” — renamed by the publisher on Sep 14, 2026

Bloomberg News Now 7 min 4 speakers 7 chapters transcribed 2 hours ago

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Transcript generated automatically by AI and may contain errors.

Why was the planned Hormuz shipping lane meeting postponed?

Caroline Hepker 0:00

AI is entering its most consequential phase where scale, safety, and sovereignty will determine who leads and who lags. Join Bloomberg Tech in London on November 2nd and 3rd as global leaders across business, finance and policy examine the defining trade-offs shaping the future of AI. Thank you to our presenting sponsor Salesforce and supporting sponsors IDA Island and Schneider Electric. Learn more at BloombergLive.com slash. Slash Tech London.

Doug Krisner 0:31

News when you want it, with Bloomberg News Now, I'm Doug Krishner. Crude oil prices are trading higher at this hour in reaction to the closure of Saudi Arabia's East West Pipeline. Now this was done on Friday as a precautionary measure after multiple attacks occurred on Thursday. At the same time, the oil market is responding to word of a delay in a meeting planned for Monday between Iran and several Gulf nations. Now the goal had been a very good idea. has been to create a temporary shipping lane through the Strait of Hormuz. Axios is reporting that Saudi Arabia submitted changes to the proposal on concerns it could establish a new status quo, one that would not be acceptable to other Gulf states.

Doug Krisner 1:11

Here is Bloomberg Steven Stepchinski.

Unknown 1:14

This is a waterway. It's it's shared by two countries. It is not something that um has had fees in the past. And I think one of the sticking points of course is the the Trump administration has said they they want free travel. They don't want there to be um a fee. And there are also Gulf nations um in the region that also don't want there to be a fee as well. Now, the issue of the fee goes beyond just paying money.

How are AI safety and regulation concerns affecting Asian stock markets?

Unknown 1:36

Um the Iranian regime is sanctioned. So you have the likes of Chevron or other big oil companies that are either US based or or in Europe or Western, um, saying that they just can't pay that.

Doug Krisner 1:47

That was Bloomberg Steven Stepchinski. We've also been talking about worries over artificial intelligence and calls for increased regulation. President Trump and White House AI advisor David Sachs are defending the administration's strategy of minimal regulation. That's after anthropic CEO Dario Amade called for a slower pace of development for most AI models. We're seeing chipmakers in South Korea decline. On the news, with shares in S.K. Heinrich and Samsung down by more than 5% each. And shares in Softbank are down by more than 10%. That's after OpenAI CEO Sam Altman said the company will not go public this year. SoftBank is slated to invest close to $65 billion in OpenAI by October. We got a broader look at market action from Vasum Menon.

Doug Krisner 2:36

He is managing the market. Director of Investment Strategy at OCBC.

Unknown 2:41

The question is whether you'll see more and more uh of the hyperscalers and perhaps you know some of the frontier labs coming out and saying that as well. Now if they say that, then you know the markets will have to readjust its assumptions about AI capex spending. Because right now the markets are very bullish on AI CapEx spending uh for twenty-six, twenty-seven, and uh twenty twenty-eight. And uh so you know if more companies

What impact did OpenAI’s decision not to go public have on tech shares?

Unknown 3:06

companies come out and you know inject caution into the market, then those assumptions could be tested and as a consequence you could see uh some degree of digestion taking place, you know, in the AI space.

Doug Krisner 3:17

That was Vasumen, Managing Director of Investment Strategy at OCBC. We go to the US Open next, where German tennis star Alexander Zverev defeated Ben Shelton in four sets to win the men's singles championship. Here is the call from ESPN on ABC.

Unknown 3:38

Long last.

Doug Krisner 3:39

Alexander Zverev has his open title. He doesn't know it's over. Yes, he can now celebrate. He was so locked down. Oh my God. Zwev the major force in men's tennis for twenty twenty six. This is the second Grand Slam title for Zverev. President Trump says he'll remove tariffs on Irish whiskey.

Unknown 4:00

And everybody's been bugging me, they're saying, Would you do me a favor? It's so unfair what's going on. Could you possibly take the tariffs off of Irish whiskey.

Doug Krisner 4:14

Now Trump was speaking after the Irish Open. By the way, Irish whiskey and other goods from the European Union are generally subject to a ten percent tariff under an adjusted rate.