Wall Street Slides On A Red Tuesday


U.S. financial markets slid ahead of President Trump’s first State of the Union address Tuesday evening. The Dow Jones Industrial Average was off 362.59 points, to 26,079.89. The Nasdaq composite index declined 64.02, to 7,402.48.

Among the media companies giving back share on Tuesday was Beasley Broadcast Group. The radio industry pure-play has been a high flyer on Wall Street in recent weeks, and jumped past the $13 mark on Monday.

Today, BBGI shares fell 45 cents, to $12.70.

Why was the market down? Rising bond yield pressure is a chief reason. Meanwhile, steep losses in health care and energy companies dragged the main indices down.

Other declines include TV company Nexstar, which shed $1.05, to $77.80.