May 30, 2018 / 2:18 PM / 3 months ago

Walt Disney shares added modestly to losses on Tuesday after ABC's 'Roseanne' cancellation

(Reuters) - Shares of Walt Disney Co fell a bit further on Tuesday after ABC canceled “Roseanne” over star Roseanne Barr’s racist tweet.

FILE PHOTO: Sunlight breaks through clouds near Disney World in Kissimmee, Florida, U.S. September 8, 2017. REUTERS/Gregg Newton

At the time of the announcement, U.S. stocks were broadly lower on concerns about political instability in Italy, and the benchmark S&P 500 was down 1.2 percent. Even before the ABC statement, Disney shares were down more than the rest of the market on a disappointing debut weekend for the film “Solo,” falling $2.32 to $99.87 a share, a loss of 2.27 percent.

In the moments following the ABC statement, the stock ticked down further to $99.50, a loss on the day of 2.63 percent. It closed the day down 2.46 percent at $99.69.

Reporting by the U.S. stock market team

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