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Media Stocks Dip As Stock Market Plunges Amid Tech Drop

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variety.com

Brian Steinberg Senior TV EditorSeveral traditional media companies saw stock prices dip amid a market sell-off Friday that appeared to be driven by sharp drops by technology stocks.Discovery Communications and Fox Corporation appeared to be two of the few outliers in Friday trading, with their shares up slightly even as the broader Dow Jones Industrial Average was off more than 445 points, or 1.5% and the Nasdaq fell more than 280 points, or 2.48%.The downturn comes after days of rallying prices, with tech stocks like Amazon and Apple enjoying positive market sentiment despite the nation’s continued grappling with the coronavirus pandemic and massive unemployment.

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