One of those days when being offline and on a plane for a few hours might have been a good thing since it kept me from the hypnotic sight of my Yahoo Finance media portfolio turning red and staying there. I don’t actually own any shares — I just use it to follow companies — so no personal hit. But this kind of “correction” is a reminder of how connected we are as a global economy and the impact the markets can have on the businesses we follow. It’s also a bit like a volcano belching smoke to remind us it’s there and can wreak havoc. Of course, one person’s smackdown is another’s buying opportunity, or so CNBC keeps telling me.
— Among the biggest media/tech drops today: Apple, down 5.32 percent to $83.93; Disney down 5.72 percent to $33.10; Tivo, down 5.68 percent to $5.81; Primedia, which reported earnings today, down nearly 8 percent to $2.40. Google dropped 3.48 percent to close the day below $450 at $448.
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