Record cases in Florida. Closed bars in Texas. The novel coronavirus’ spread continues in the Sun Belt, and that’s worrying Wall Street.
The Dow Industrials fell 2.8% on Friday, as the Nasdaq index was down 2.6%.
How did media stocks fare?
The varying degrees of down would be a good description for the woes of radio and TV companies.
Townsquare Media shed 7 cents, finishing at $4.48.
Sinclair Broadcast Group was down $1.57 to $16.80, for an 8.6% decline.
Down 8.3% on Friday: iHeartMedia, finishing the week at $9.02.
For Entercom and Beasley Media Group, increased concern over a loss of sports revenue may have further escalated losses for the company’s stocks on Friday. ETM was down 17.1% to $1.3350, while BBGI was off 16.1%, to $2.34.