{"id":95013,"date":"2024-08-05T21:04:08","date_gmt":"2024-08-06T01:04:08","guid":{"rendered":"https:\/\/www.cyberlego.com\/web\/2024\/08\/05\/music-stocks-suffer-as-global-markets-roiled-by-recession-fears-k-pop-hit-particularly-hard\/"},"modified":"2024-08-05T21:04:08","modified_gmt":"2024-08-06T01:04:08","slug":"music-stocks-suffer-as-global-markets-roiled-by-recession-fears-k-pop-hit-particularly-hard","status":"publish","type":"post","link":"https:\/\/www.cyberlego.com\/web\/2024\/08\/05\/music-stocks-suffer-as-global-markets-roiled-by-recession-fears-k-pop-hit-particularly-hard\/","title":{"rendered":"Music Stocks Suffer as Global Markets Roiled by Recession Fears; K-Pop Hit Particularly\u00a0Hard"},"content":{"rendered":"

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\n\tK-pop stocks were the hardest hit music stocks on Monday (Aug. 5) as global markets continued Friday\u2019s decline in the U.S. with major selloffs.\u00a0<\/p>\n

\n\tFour K-pop companies \u2014 HYBE, SM Entertainment, JYP Entertainment and YG Entertainment \u2014 fell an average of 8.8% on Monday, while a major South Korean stock index, the KOSPI composite index, had its worst day since 2008<\/a> by also falling 8.8%. HYBE declined 5.9% while the others fell between 9.6% and 9.8%. South Korean stocks were effectively catching up to the rest of the world on Monday: trading in Seoul had closed by the time a disappointing U.S. jobs report was released Friday morning, stoking fears of a possible recession.\u00a0<\/p>\n

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\t\t\t\t\tHow Layoffs Are Showing Up in Music Companies\u2019 Earnings\u00a0Reports\t\t<\/p>\n<\/h3><\/div>\n

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\n\tThe tech-heavy Nasdaq fell 3.4% to 16,200.08, the S&P 500 dropped 3.0% to 5,186.33 and the Dow Jones Industrial Average dropped 2.6%, with the latter two suffering their deepest losses since September 2022<\/a>. In Japan, the Nikkei Stock Average plummeted 12.4%, its worst day since 1987<\/a>.\u00a0<\/p>\n

\n\tSome of the biggest companies were among the worst performers. Chipmaker Nvidia, once a high-flying stock buoyed by AI investors, dropped 6.4% on Monday. Apple fell 4.8%. Amazon dropped 4.1%.\u00a0<\/p>\n

\n\tThe 20-company Billboard Global Music Index (BGMI) fared a bit better than the major indexes, dropping 2.0% to 1,705.25 despite the large K-pop declines.\u00a0<\/p>\n

\n\tOutside K-pop, SiriusXM fell 4.1% to $3.01, adding to last week\u2019s 15.6% decline<\/a> following second-quarter earnings results<\/a> that showed the company lost 173,000 satellite radio subscribers in the period ended June 30. Live Nation fell 3.5% to $88.06. Sphere Entertainment dropped 2.8% to $38.25.\u00a0<\/p>\n

\n\tThe BGMI\u2019s most valuable companies fared better. Universal Music Group was flat at 21.44 euros ($23.50). Spotify declined 2.1% to $324.03. Warner Music Group, which releases earnings on Wednesday (Aug. 7), dropped 2.4% to $27.59. German concert promoter CTS Eventim slid 1.3% to 75.50 euros ($82.74).\u00a0<\/p>\n<\/div>\n<\/div>\n

Aller \u00e0 la source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

K-pop stocks were the hardest hit music stocks on Monday (Aug. 5) as global markets continued Friday\u2019s decline in the U.S. with major selloffs.\u00a0 Four K-pop companies \u2014 HYBE, SM Entertainment, JYP Entertainment and YG Entertainment \u2014 fell an average of 8.8% on Monday, while a major South Korean stock index, the KOSPI composite index, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-95013","post","type-post","status-publish","format-standard","hentry","category-musique","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/95013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/comments?post=95013"}],"version-history":[{"count":0,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/95013\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/media?parent=95013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/categories?post=95013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/tags?post=95013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}