Media Stocks Dinged: Trade War Fears, Facebook Woes Blamed

Due to big tariffs against other countries that are to come, major market indexes were hit with steep 2.5% to 3% declines on Thursday -- with media stocks caught in the downdraft.

In particular, media technology-focused companies took it on chin -- the damage stemming from ongoing Facebook data issues with Cambridge Analytica.

Facebook lost another 2.7% on Thursday to $164.89 -- down 11% since Monday. Twitter lost more -- 4.7% to $31.20; Google (Alphabet) also had a hard fall: 3.7% to $1,053.15.

Other media companies lost similar ground: Comcast was down 3.7% to $33.23; Dish Network fell 3.3% to $37.77; Netflix lost 3.1% to $306.70; and Discovery gave up 3.0% to $21.52.

Other traditional media companies that were somewhat spared include: AMC Networks, down 0.8% to 49.64; CBS dropping 1.2% to $50.26; 21st Century Fox slipping 0.3% to 36.75.; Walt Disney off 1% to $100.70 Sinclair Broadcast Group, losing 1.1% to $31.10; and Charter Communications down 0.8% to 322.97.

Dow Jones Industrials declined 2.9% to 23,957, while the S&P 500 dropped 2.5% to 2.643 and Nasdaq fell 2.4% to 7,166.

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