Singapore markets close in 2 hours 23 minutes
  • Straits Times Index

    3,207.25
    +7.22 (+0.23%)
     
  • Nikkei

    31,872.52
    -499.38 (-1.54%)
     
  • Hang Seng

    17,370.17
    -241.70 (-1.37%)
     
  • FTSE 100

    7,593.22
    -32.50 (-0.43%)
     
  • Bitcoin USD

    26,396.86
    +153.55 (+0.59%)
     
  • CMC Crypto 200

    566.29
    +3.64 (+0.65%)
     
  • S&P 500

    4,274.51
    +0.98 (+0.02%)
     
  • Dow

    33,550.27
    -68.63 (-0.20%)
     
  • Nasdaq

    13,092.85
    +29.25 (+0.22%)
     
  • Gold

    1,892.10
    +1.20 (+0.06%)
     
  • Crude Oil

    94.44
    +0.76 (+0.81%)
     
  • 10-Yr Bond

    4.6260
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,440.11
    -5.44 (-0.38%)
     
  • Jakarta Composite Index

    6,937.83
    +14.03 (+0.20%)
     
  • PSE Index

    6,400.19
    +25.51 (+0.40%)
     

Why AT&T and Verizon Stocks Tanked on Thursday

Why AT&T and Verizon Stocks Tanked on Thursday

The two leading U.S. telecom stocks, AT&T (NYSE: T) and Verizon (NYSE: VZ), came under significant pressure on Thursday. The source of this was a media article about the market entry of a potentially powerful new rival. This put enough fear in investors to drive AT&T's share price down 5% on the day, while Verizon's suffered a nearly 3% decline.