Stocks Sink As Selling Hits AMC Entertainment, Showbiz Shares
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deadline.comStocks retreated sharply Monday in the worst opening in weeks on jitters prompted by a potential crisis in the Chinese real estate sector, fear over Fed policy changes and negotiations over the U.S.
debt ceiling in Washington, D.C.There’s also been some recent data raising fears of slower growth in the U.S. and global economy.
Stocks fell across the board and the fears created pressure on riskier assets, with AMC Entertainment particularly hard hit — off 5% at the open — and exhibition stocks following.
The share price of the nation’s largest theater chain has been inflated by Reddit-fueled buying that’s taken the price well beyond what Wall Street thinks the stock is worth.
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