The tech-heavy exchange fell 3.1% today to a two-month low as investors, fearful that the bull market for Internet and biotech companies has run its course, continued to shift their cash into more conservative investments. On NASDAQ’s worst day since 2011, the Standard & Poor’s 500 fell 2.1% and the Dow Jones Industrial Average slipped 1.6%. Media stocks also felt the chill: The Dow Jones U.S. Media Index fell 2.8%. All of the major companies we track lost ground. CBS (-3.8%) was hardest hit in Big Media followed by Time Warner (-3.7%), Disney (-3.7%), Sony (-3.6%), Viacom (-3.6%), Comcast (-2.8%), News Corp (-2.2%), Fox (-2.1%), and Discovery (-1.7%). In the rest of the sector companies licking their wounds include Pandora (-10.5%), WWE (-7.2%), Facebook (-5.2%), Netflix (-5.2%), Lionsgate (-4.8%), and RealD (-4.6%)
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