Stocks fall; momentum plays hit hard

By on Jul, 8 2014 with Comments 0

So-called momentum plays led a selloff in U.S. stocks on Tuesday that pulled the Dow Jones Industrial Average and S&P 500 further from record levels. Shares of biotechnology, Internet and small-cap companies were battered for a second day. The Dow dropped 117.59 points, or 0.7%, to a preliminary 16,906.62, while the S&P shed 13.94 points, or 0.7%, to 1,963.71. The Nasdaq lost 60.07 points, or 1.35%, to 4,391.46.

The RBR Radio Index was down 20.800, or 2.2%, to 916.860.

The TVBR Television Index was down 17.504, or 1.8 %, to 933.767.

Winners
n/a

Losers
SBS, down 4.9%
Cumulus, down 4.8%
Gray, down 4.1%

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About The Author: RBR+TVBR has been reporting on the business of broadcasting for nearly three decades. Beholden to no one, it is independently owned.

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