Digital Media Stocks Take A Hit

After a stock selloff on Friday, tech companies -- including new digital media companies -- continued their sharp declines on Monday.

So-called FANG stocks -- Facebook, Amazon, Netflix, and Google (Alphabet Inc.) -- posted big declines. Facebook, off 2.9% to $145.29; Amazon, down 2.5% $952.20; Netflix, sinking 5.0% to $149.72; and Google, off 2.6% to $944.18. Twitter was down -- losing 2.0% to $16.57.

In comparison, big traditional TV-media companies are up -- CBS, climbing 3.6% to $62.93; Discovery Communications, gaining, 3.1% to $26.90; 21st Century Fox is up 2.4% to 28.82; Viacom, 2.2% higher to $36.18; and Comcast, 1.2% higher to $41.20.

TV station groups also looked higher. Sinclair Broadcast Group, gaining 1.5% to $34.77; Tegna, also up 1.8% to $14.55; Nexstar Media Group, up 0.8% to $62.25.

Companies that showed smaller gains included Walt Disney, up 0.9% $106.45; Tribune Media, up 0.8% to $39.44; and Charter Communications, 0.8% higher to $335.78.

The overall tech-heavy Nasdaq index was down 1.3% to 78.45; with the Dow Jones Industrial index slipping 0.3% to 21,218.44.

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