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Streaming Companies Lead Music Stocks’ Gain as U.S. Markets Fall
Music stocks' gain this week was led by streaming companies like Spotify as U.S. markets fell overall. The Billboard Global Music Index was up 3.6%.
Music stocks bounced back — and performed better than major U.S. indexes— for a second week after President Trump’s tariff policy sent markets into a tailspin. The 20-company Billboard Global Music Index (BGMI) rose 3.6% to 2,446.90, its second consecutive gain after falling 8.2% the week ended April 4. Apple and other tech companies that import phones, computers and chips from China and other Asian countries gained a reprieve from the most burdensome tariffs.
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