Satellite : Wall Street Suffering Extends to Satellite

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Monday was tough for everyone on Wall Street … including the satellite folks.

After the House failed to pass the Bush Administration's $700 billion Wall Street bailout, the Dow fell by more than 777 points during trading Monday, to 10,365.45. The BRIDGE Multiplatform Index (which can be found at http://www.mediabiz.com/index) tumbled more than 9 percent to 1,301.73.

On the satellite side, DISH Network shares fell more than 18 percent to $19.97 (see story below on the AT&T/DIRECTV deal and implications for DISH). EchoStar shares tumbled more than 9 percent to $24.10.

DIRECTV closed down more than 10 percent to $23.65.

Sirius also continued its slide. Shares in the satellite radio company fell more than 18 percent to 62 cents a share.