Todd Spangler NY Digital EditorOn the first trading day of 2021, stocks of major media and tech companies fell as investors assessed the impact of the ongoing COVID-19 pandemic and U.S.
political turmoil.The Dow Jones Industrial Average was down 2.2% in midday trading Monday, dropping 677 points to about 29,928.
The S&P 500 index dropped 2.3% and the tech-focused Nasdaq composite was off 2.4%.Losers in the media sector included Comcast, whose shares slumped 5%, as well as Netflix, whose stock was down more than 4%.
Shares of Discovery, which launched its Discovery Plus streaming service on Monday, were up slightly in midday trading.Big tech companies that saw their stock prices decline included Apple (-3.5%), Amazon (-3.2%), Facebook.
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