Digital Media Stocks Suffer Big Declines

Big traditional TV/media stocks took it on the chin on Friday -- somewhat worse than the market overall. But digital media companies went even lower.

So-called FANG stocks -- Facebook, Amazon, Netflix, and Google -- took steep hits.

Facebook lost 5.8% to $104.07, while Amazon gave back 6.4% to $502.13 and Netflix was down 7.7% to $82.79. Google, somewhat the best of the worst, dropped 3.5% to $683.55.

Twitter also got battered, down 7% to $15.72. LinkedIn had one of the biggest declines, crushed 44% to $108.38.

By contrast, traditional media looked fairly good, although still down versus general market indices.

Walt Disney lost 1.6% to $93.90; Discovery Communications slipped 1.8% to $27.21; Time Warner gave up 3.7% to $69.16; 21st Century Fox lost 3.9% to $25.07; Viacom lost 4.6% to $43.24; and CBS was down 4.46% to $46.25.

Comcast was one of the few stocks with an uptick -- gaining 2% to $59.41.

Dow Jones Index dropped 1.3% to 16,204 on Friday; Nasdaq fell 3.3% to 4,363; and S&P 500 was trimmed 1.9% to 1,880.



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