Even Disney Can’t Shake Wall Street’s Recession Fears About Hollywood Stocks | Analysis

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Economic signals indicate the economic downturn is unavoidable, roiling stocks in a rout that sent Dow Jones index member Disney to an “unbelievable” $110 price

Mickey Mouse, the mascot of The Walt Disney Company, waves before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City. (Getty)

The 1,000-point nosedive in the Dow Jones industrial average is poised to continue on Monday on fears the economy is skidding into an unavoidable recession, with entertainment stocks among the industries hit hard as analysts expect consumers to tighten their belts. Even the venerable Disney stock has been hit hard, which has one analyst seeing a harbinger of “doom and gloom.”

Investors worry a significant drop in consumer spending would hurt Hollywood as TV advertisers slash budgets, families cancel summer theme park vacations and subscribers cancel streaming services to save cash. Exacerbating any potential recession-related drop is that the industry has already been under significant pressure, with one key barometer — the