Skip to main content

Media Stocks Drop in Post-Election Trades

Related: Trump Stuns Pundits and Pollsters to Capture Presidency

The stock market opened higher the day after Donald Trump’s surprising election victory, but the media companies the president-elect bashed during the campaign traded lower.

Scripps Networks, Discovery Communications and Netflix were all down more than 2% in early trading Wednesday. Disney, CBS, AMC, Time Warner and Viacom were all down more than 1%.

Trump has said he will oppose Time Warner’s proposed acquisition by AT&T. AT&T was down more than 1% as well.

Comcast opened higher, gaining more than 1%.

The Dow Jones Industrial Average was up 68 points, or 0.37%. The NASDAQ index was down a bit. As Trump got closer to victory, the U.S. futures market and some overseas stock markets plunged amid fear of the uncertainty over what a Trump administration would mean to foreign trade.