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Stock Market Retreats Again, Whacking Media And Tech Sectors

Deadline Hollywood
Stock Market Retreats Again, Whacking Media And Tech Sectors

Today’s stock market performance proved less dire than Wednesday’s bloodbath, but the two-day swoon has now shaved billions from media and tech companies. Fears about rising interest rates again prompted the heavy selling, with the arrival of corporate earnings season making investors worry about heavy debt burdens and questionable business models. The Dow 30, which see-sawed wildly over the course of the day, ended up at 25,052.83, down 545.91 points, or 2.1%. That was better than its 800-point plunge on Wednesday, but not by much. The S&P 500 lost 57.31 points, a bit more than 2%, to 2,728.37, its sixth straight down session and worst losing streak since last November. The Nasdaq Composite,