August 2011
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Media stocks drop more than the market as a whole
Stocks fell across the board Thursday in the worst day of trading since 2008. The drop was fueled by a global credit crisis and a weak U.S. economic recovery, with the expectation that Friday’s jobs report will add to the worries. The Dow fell 4.3 percent, S&P 500 fell 4.8 percent, and the Nasdaq fell 5.1 percent. Media stocks took a larger hit than the market as a whole. “Many...
“While in some situations the press may have no greater rights than those of the...”
– Mickey H. Osterreicher, general counsel for the National Press Photographers Association, protesting the arrest of a news photographer arrested while videotaping the police. 