Music stocks fell sharply this week amidst concerns about the ongoing U.S federal government shutdown, as President Trump’s latest threat to levy “massive” tariffs on goods produced in China dragged down markets on Friday (Oct. 10).

Only three stocks — Spotify, JYP Entertainment and HYBE — in the 19-company Billboard Global Music Index (BGMI) finished the week ended Oct. 10 with gains. Dragged down by numerous losses near or greater than 10%, the BGMI fell 1.9% to 2,899.73, its third consecutive weekly decline.

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Music stocks fared better tha

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