Wall Street Sinks On Melancholy Monday

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Many media stocks sank along with the general indices on Monday, as rising trade worries between the U.S. and China led investors on Wall Street to engage in a massive sell-off. With 20 minutes remaining in trading, The Dow Jones Industrial Average was down 2.6% to 25,280.78, a 661.59-point dip.


Nasdaq was off 3.5%, falling to 7,640.18 thanks to a 276.76-point dip.

Among the many declining media companies was Viacom, with its Class B shares off $1.09 to $28.16.

Sinclair Broadcast Group tumbled by 6.3% as of 3:43pm Eastern, to $57.94.

Nexstar and Nielsen were also down sharply, as were Gray Television, Entravision, DISH Network and CBS Corp.

But the biggest decline, percentage-wise, involves The E.W. Scripps Co.

SSP was down a massive 19.2% to $17.46 with roughly 15 minutes left in Monday’s trading session.

 


For a look at today’s closing prices, please visit the Wall Street Report on the homepage of RBR.com.

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