Wall Street slides with media shares; payrolls eyed

NEW YORK (Reuters) - Wall Street fell on Thursday as biotech stocks sank and as fears that more viewers are ditching cable TV sent media companies' shares sharply lower.

The Dow Jones industrial average <.DJI> fell 120.72 points, or 0.69 percent, to 17,419.75, the S&P 500 <.SPX> lost 16.28 points, or 0.78 percent, to 2,083.56 and the Nasdaq Composite <.IXIC> dropped 83.50 points, or 1.62 percent, to 5,056.44.

(Reporting by Noel Randewich; Editing by Meredith Mazzilli)

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