Communications services companies fell as traders rotated out of high-risk sectors.

Netflix shares slipped even after the streaming giant presented to advertisers in an "upfront" event in New York, and touted the rapid growth of its ad-supported tier to 40 million users -- eight times the level a year earlier.

AMC Entertainment slid as traders retreated from the meme stocks that had surged earlier in the week.

Write to Rob Curran at

(END) Dow Jones Newswires

05-16-24 1751ET