Stocks took a beating on Wednesday – 6/1/11


A soft jobs report from ADP made private analysts lower their expectations for the government’s jobs report coming Friday and the Institute for Supply Management weighed in with a soft report on US manufacturing. Add to that a credit downgrade from Moody’s for the national debt of Greece and it was a really gloomy day on Wall Street. The Dow Jones Industrial Average plunged 280 points, or 2.2%, to 12,290. Broadcasting stocks fell with the market.

The RBR Radio Index was down 16.309, or 4.3%, to 360.328.

The TVBR Television Index was down 8.475, or 3.2%, to 259.441.

SBS, up 1.4%

Entercom, down 9.6%
Emmis, down 9.4%
Fisher, down 6.7%