{"id":127363,"date":"2022-05-18T22:10:07","date_gmt":"2022-05-18T22:10:07","guid":{"rendered":"https:\/\/fin2me.com\/?p=127363"},"modified":"2022-05-18T22:10:07","modified_gmt":"2022-05-18T22:10:07","slug":"stocks-sink-as-market-woes-hit-showbiz-shares-sp-falls-most-since-june-2020-dow-sheds-1100-points","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/stocks-sink-as-market-woes-hit-showbiz-shares-sp-falls-most-since-june-2020-dow-sheds-1100-points\/","title":{"rendered":"Stocks Sink As Market Woes Hit Showbiz Shares; S&#038;P Falls Most Since June 2020 &#038; Dow Sheds 1,100 Points"},"content":{"rendered":"<p>Media shares felt the pain as markets swooned Wednesday with glum earnings and outlooks from major retailers reflecting broader economic woes.<\/p>\n<p>Target and Walmart, usually considered safe stocks, reported a big hit from higher transportation costs as gas prices soar, without any relief in sight. It&rsquo;s hard for them to pass higher costs on to consumers who already&nbsp;are spending less on anything beyond groceries.<\/p>\n<p>The S&amp;P fell 4% &mdash; it&rsquo;s worst slide since June 2020. The Dow plunged more than 1,100 points, and the Nasdaq lost 4.7%.<\/p>\n<p>Investors have been thoroughly spooked by soaring inflation that the Fed is trying to contain by raising interest rates and by the Russia-Ukraine war that&rsquo;s slogging on. Federal Reserve chief Jerome Powell told the <em>WSJ<\/em> that there could be &ldquo;some pain involved in restoring price stability.&rdquo; This is part of it.<\/p>\n<p>Among media shares, with companies in the midst of a week of upfront presentations in NYC, Disney was down 4.3%, and NBCU parent Comcast by 1.7%. Fox fell 3.4% and Paramount 2.4%. Shares of the latter soared 15% Tuesday after Warren Buffett&rsquo;s Berkshire Hathaway acquire a big stake, a show of confidence that wasn&rsquo;t able to withstand today&rsquo;s rout.<\/p>\n<p>Netflix shares, which have flopped in recent months as it lost subscribers, saw its shares fall 7%.<\/p>\n<h2>Must Read Stories<\/h2>\n<h3>&#8216;Maverick&#8217; Premiere Draws 5-Minute Standing Ovation; Star Gets Honorary Palme d&#8217;Or<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/05\/Tom-Cruise-Cannes-2022-1.jpg\"><\/p>\n<h3>Zaslav&#8217;s Big Plans; Kaling On &#8216;Velma&#8217;; Chris Wallace Show; More<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/05\/David-Zaslav-upfronts.jpg\"><\/p>\n<h3>Jamie Foxx Actioner, Julianne Moore-Sandra Oh Pic, &#8216;Maverick&#8217;, Reviews, Deals &#038; More<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/05\/Jamie-Foxx-Cannes-movie.jpg\"><\/p>\n<h3>Heard Acquaintance Tells Of Actress&#8217; \u201cSwollen Face\u201d After Fight With \u201cWasted\u201d Depp<\/h3>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/deadline.com\/wp-content\/uploads\/2022\/05\/Depp-HEard-2.jpg\"><\/p>\n<h2>Read More About:<\/h2>\n<p>Source: <a href=\"https:\/\/deadline.com\/2022\/05\/stock-market-woes-s-and-p-falls-most-since-june-2020-dow-sheds-1100-1235027607\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Media shares felt the pain as markets swooned Wednesday with glum earnings and outlooks from major retailers reflecting broader economic woes. Target and Walmart, usually [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":127362,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks Sink As Market Woes Hit Showbiz Shares; S&#038;P Falls Most Since June 2020 &#038; Dow Sheds 1,100 Points - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/stocks-sink-as-market-woes-hit-showbiz-shares-sp-falls-most-since-june-2020-dow-sheds-1100-points\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks Sink As Market Woes Hit Showbiz Shares; S&#038;P Falls Most Since June 2020 &#038; Dow Sheds 1,100 Points - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Media shares felt the pain as markets swooned Wednesday with glum earnings and outlooks from major retailers reflecting broader economic woes. 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