CNBC Business News Update: Market Selloff, Oil Surge, Netflix Shakeup, and Apple's Foldable iPhone

This CNBC business news update provides a roundup of the latest market movements and corporate developments. It covers Friday's stock market selloff driven by AI concerns, surging oil prices, and key leadership changes at Netflix. The segment also highlights Apple's new foldable iPhone and previews upcoming earnings and economic data.

■ Market & Economy
- Friday selloff on AI worries; major averages down; semiconductor stocks' 9-day losing streak
- Oil prices surge; energy stocks at record highs; Treasury yields at 5.1%

■ Expert Insight
- Tom Lee on market fear and potential rally

■ Netflix Developments
- Earnings due Tuesday; new content chief; layoffs; subscriber churn; stock down 40%

■ Apple's Foldable iPhone
- The Duo pre-order; pricing $1,999+; supply shortages

■ Upcoming Events
- Earnings: Netflix, United Airlines, GM; housing and consumer sentiment data; election impact teaser

Viewers interested in financial markets and business news will find a concise summary of recent events and factors influencing investor sentiment. The update offers insights into market trends and corporate news to help inform investment decisions and stay abreast of economic indicators.