More Big Stock Market Losses, Media Also Down

• by Wayne Friedman , 6 hours ago

The stock market continued to be in free fall as major stock market indices fell 8% or more in early morning trading, after trading on the S&P 500 was halted for the second time this week. Media stocks were not immune.

Sinking stocks came a day after President Trump announced a ban of most travel from Europe to the U.S., amidst heightened coronavirus concerns.

Double-digit percentage declines for media stocks included 10% to 17% drops for Comscore, Gray Television, Nexstar Media Group and Dish Network Group.

Media stocks that sank 9% or more included Nielsen Holdings, ViacomCBS, Walt Disney, The Trade Desk, and the Rubicon Project.

Big digital media stocks -- FAANG companies -- were in the middle of the pack, with Facebook losing 6%; Amazon down 5.2%; Apple off 7.2%; Netflix off 6.3%; and Google down 5.7%.

Better-performing companies included AMC Networks, down 1%; Tegna, 2.1% lower; Charter Communications, losing 3.3%; and Comcast Corp., off 4.8%.