The Billboard Global Music Index fell 4.8% to 1,744.64 this week as 17 of its 20 stocks were losers and six fell more than 10%.
Benchmark downgraded Sphere Entertainment to a "sell" rating with a $40 price target. The share price fell 4.4% to $44.55 on Tuesday (Sept. 3).
Led by Chinese music streamer Cloud Music and K-pop giant HYBE, the Billboard Global Music Index rose 0.2% to 1,832.97.
The Billboard Global Music Index gained 2.7% to 1,829.18 as 17 of its 20 stocks made gains this week.
The Billboard Global Music Index dropped 0.7% to 1,780.54, lowering its year-to-date gain to 16.1%.
Label and publisher stocks that soared in 2023 are mostly down this year, as some souring indicators have created uncertainty among investors.
The Billboard Global Music Index gained 3.1% to 1,792.93, increasing its year-to-date gain to 16.9%
The Billboard Global Music Index fell 2.0% on Monday, though that was a lighter drop than those suffered by the S&P 500, the Dow Jones Industrial Average and the Nasdaq.
The Billboard Global Music Index fell 1.1% to 1,739.18, bringing its year-to-date gain to 13.4%, amid overall sharp declines in U.S. stock markets.
The Billboard Global Music Index fell 1.2% to 1,757.70, bringing its year-to-date gain to 14.6%.
