Communications services companies fell sharply as traders retreated from high-risk sectors.

Walt Disney's ESPN, Fox Corp. and Warner Bros. Discovery aren't moving forward with their joint streaming venture Venu Sports, the companies said, calling off what would have been a major bet as the industry's dynamics shift rapidly.

Verizon Communications said it has contained a cyber incident caused by the Chinese hacking operation known as Salt Typhoon.

 

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

01-10-25 1746ET