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Markets Tumble, and So Do Satellite Shares
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When will it get any better?
The markets tanked again Thursday, along with satellite stocks. The Dow lost 445 points, or 5.6 percent, during the trading day, finishing at 7,552. The S&P 500 closed at an 11-1/2 year low.
Probing new stock market depths was Sirius XM, which finished Thursday down more than 13 percent, to 14 cents a share. It appears the satellite radio company's stock is being pressured by the ongoing woes hammering Detroit automakers. Sirius XM generates a lot of business - and customers - through the automotive sector.
DISH Network stock finished Thursday down nearly 13 percent, to $8.37 a share. EchoStar tumbled more than 6 percent to $13.04. And DIRECTV shares fell more than 4 percent to $18.09.
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When will it get any better?
The markets tanked again Thursday, along with satellite stocks. The Dow lost 445 points, or 5.6 percent, during the trading day, finishing at 7,552. The S&P 500 closed at an 11-1/2 year low.
Probing new stock market depths was Sirius XM, which finished Thursday down more than 13 percent, to 14 cents a share. It appears the satellite radio company's stock is being pressured by the ongoing woes hammering Detroit automakers. Sirius XM generates a lot of business - and customers - through the automotive sector.
DISH Network stock finished Thursday down nearly 13 percent, to $8.37 a share. EchoStar tumbled more than 6 percent to $13.04. And DIRECTV shares fell more than 4 percent to $18.09.
