Shares in videogame publishers took a massive hit on Tuesday amid economic turmoil in the wider financial community.
The Dow Jones industrial average dropped 777.68 points (6.98 percent) on Tuesday, its biggest one-day fall in history, while the NASDAQ composite index fell 199.61 (9.14 percent), reports GameSpot.
The market meltdown was triggered by the US House of Representatives’ decision to vote down a $700 billion bailout bill.
Activision Blizzard stock slid 13.8 percent to close at $14.12, while Electronic Arts’ stock price fell 9.16 percent to $36. THQ lost seven percent, closing at $11.48, while Take-Two shares dropped 4.52 percent to $15.43. All US game publishers are listed on the NASDAQ.
Microsoft dropped by 8.72 percent to close at $25.01, while Sony shed 5.09 percent to end trading on the New York Stock Exchange at $30.76.
International publishers were also hit hard. Paris-based Ubisoft lost €12.47 per share to close at €45.50 on the Euronext market, while Eidos parent SCi Entertainment fell £3.75 on the London Stock Exchange, ending the day at £26.75.