Stocks took a dive on Thursday – 8/18/11


Renewed worries about the stability of the economies of various European countries put downward pressure on stock prices around the globe on Thursday. On the domestic front, a report from the Federal Reserve Bank of Philadelphia on regional manufacturing came in well below expectations and the National Association of Realtors reported that existing home sales were down in July. Definitely a day of doom and gloom. The Dow Jones Industrial Average ended the session down 420 points, or 4.7%, at 10,991. Broadcasting stocks took a dive with the market.

The RBR Radio Index was down 13.945, or 4.6%, to 288.139.

The TVBR Television Index was down 13.137, or 6.2%, to 198.531.

ACME, up 9.2%
Beasley, up 1%

Entravision, down 16.5%
Gray, down 9.4%
Entercom, down 9.2%