Wall Street Sinks On Melancholy Monday


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.