Media Stocks Hard Hit By Early Tuesday Stock Market Drop

Heightened concerns over potential effects of tariffs with China and a slowing global economy took down the overall stock market -- and some key media companies --  in early Tuesday trading.

Dish Network was one of the big losers, sinking 7% to $32.24 This was followed by new media and data companies, with TiVo dropping 5.7% to $11.81 and Roku down 5.3% to $51.02.

Three big TV station groups also lost ground -- Nexstar Media Group was off 2.9% to $77.11, while Sinclair Broadcast Group was down 2.6% to $28.73 and Tegna dipped 1.8% to $11.77.

Big digital media technology companies -- Amazon, Netflix, Google, and Facebook -- also sank. Amazon was down 3.7% to $1,720 and Netflix dropped 3.2% to $318.96. Google lost 2.6% to $1,072, and Facebook was down 2.1% to $151.50. Twitter lost 2.6% to $28.43.



More traditional media companies also slipped. Discovery was off 2.3% to $32.58, while Walt Disney was down 2% to $115.90, and CBS gave up 1.9% to $55.70. 21st Century Fox did better than most -- gaining a tiny 0.6% to $45.41.

Two big cable TV providers lost less ground than other media: Charter Communications was down 1.6% to $314.37, and Comcast Corp. was down 1.4% to $35.25.

Only Verizon Communications showed an increase -- up 2.9% to $56.57.

Dow Jones Industrials was down 2.1% -- over 540 points -- to 24,787. The broader market S&P 500 index gave up 2.2% to 2,694, and the tech-heavy Nasdaq lost 2.7% to 7,263 in early Tuesday trading.

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