Stocks fall; momentum plays hit hard
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.
SBS, down 4.9%
Cumulus, down 4.8%
Gray, down 4.1%