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While overall stock-market indexes posted decent Tuesday gains, some key media stocks -- especially social-media companies -- suffered some big declines.
Twitter, seemingly pulled in the Facebook-Cambridge Analytica controversy, was down a big 10.4%, closing at $31.35. Social-media competitor Snap Inc. lost 2.6% to $16.00.
For its part, Facebook lost another 2.6% on Tuesday -- after a 6.7% drop on Monday.
A report from The New York Times and The Guardian over the weekend alleged data firm Cambridge Analytica improperly gained access to the data of more than 50 million Facebook users.
Other big media losers: Discovery was down 4.2% to $21.99; Comcast gave up 2% to $34.58; Dish Network fell 2% to $38.81; Charter lost 1.6% to 327.59; Viacom slipped 1.2% to $30.99; and CBS dropped 1% to $50.26. Big TV station group Tegna declined 3.9% to $11.86.
Alphabet (Google) avoided some of the major declines of its digital media rivals -- slipping just 0.4% to 1,095.80.
Dow Jones Industrials were up 0.5% -- 116 points -- to 24,727; S&P 500, adding 0.2% to 2,716; and Nasdaq, up 0.3% to 7,364.
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March 20, 2018 at 05:02PM
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