The Dow Jones industrial average closed down 587 points Monday amid continuing concerns about China and the U.S. economy.
The morning especially was wild, with the Dow plunging 1,000 points triggered by a global wave of selling before surging back.
In general, how could the stock plunge potentially affect radio or television stocks this week?
RBR+TVBR reached out to experts to find out.
Patrick Communications Partner Larry Patrick tells RBR+TVBR what Wall Street analysts are calling the drop “a correction, which is really a major slide.”
That, he says, makes almost everybody, like dealmakers, nervous and it may take a few days for the effects to be fully visible.
Eddie Esserman of Media Services Group says: “I believe the lower broadcast earnings have depressed the sector’s stocks ahead of the market’s overall movement.”
We have detailed radio and television coverage in those sections. You can also read how specific broadcast stocks performed in the RBR Radio Index and TVBR Stock Index.
