Media Stocks Sink Southward With General Indices


The U.S. State Department announced visa restrictions on Chinese government and Communist Party officials believed to be involved in abuse of Muslim minority groups in China.

The NBA had its pre-season NBA game telecasts on China’s CCTV canceled after Commissioner Adam Silver reacted to comments made by the owner of the Houston Rockets regarding his support of protesters in Hong Kong critical of their Beijing rules.

Both, along with the Jewish holiday of Yom Kippur, when many investors sell their shares ahead of sundown, all played roles in a down day on Wall Street.

The Dow Jones Industrial Average fell 313.96 points, or 1.2%, to 26,164.04.

The Nasdaq Composite declined 132.52 points, or 1.7%, to close at 7,823.78.

Most media issues were down. Bucking the trend by heading upward was Townsquare Media (up 1 cent to $6.21), and Saga Communications (up 2 cents to $30.36).

Also up 2 cents — Beasley ($2.92).

Key decliners included CBS (-$1.59, to $37.17).