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Media Stocks Swoon With AMC Entertainment, Nexstar, Dish, ViacomCBS In Double-Digit Decline

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Media stocks plunged amidst general carnage in the markets Monday with movie theater shares – AMC Entertainment, Cinemark, National Cinemedia, hard hard hit but declines across sectors from b…

, Cinemark, National Cinemedia, hard hard hit but declines across sectors from broadcasting to entertainment to satellite. The tech sector was down 20% from its all time-time.

The DJIA fell 7.8% or 2,013 points – it’s worst point drop ever and the biggest percentage drop since 2008. The S&P 500 was down 7.6% and the Nasdaq lost 7.3%. Twitter fell 6.35% despite news that it made peace with activist investor Elliott Management, which had agitated for CEO Jack Dorsey to leave and other measures.

 

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