Shares of media giant Fox Corporation (FOX -1.89%) (FOXA -1.35%) were falling today as investors processed more bad news stemming from the coronavirus pandemic. The broader stock market was reeling from the latest unemployment figures released today, and Fox's stock took a hit along with it.
Full Answer
Investors were focused on the latest jobless claims figures and the broader economic fallout
Chris has covered Tech and Telecom companies for The Motley Fool since 2012. Follow him on Twitter for the latest tech stock coverage. Follow @tmfnewsie
What happened
Shares of media giant Fox Corporation ( NASDAQ:FOX) ( NASDAQ:FOXA) were falling today as investors processed more bad news stemming from the coronavirus pandemic. The broader stock market was reeling from the latest unemployment figures released today, and Fox's stock took a hit along with it.
So what
Fox's shares, like many other companies', have been volatile over the past two months. The company's stock price is down nearly 19% since the beginning of March, far more than the broader S&P 500's 6% dip.
Now what
Investors can likely expect more volatility from Fox's stock over the coming weeks. The company will report its third-quarter 2020 results on May 6 and said in an SEC filing at the end of March that the COVID-19 pandemic will have a "material adverse effect" on the company's financial results.
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