The only agency group rising in the down market was Cordiant Communications Group, which traded at $9.62, up 4.1%, or $0.38, shortly before 4 p.m. ET.
Among the major holding companies, Omnicom Group dropped 9.7% to close at $47.62, down $5.12, and True North Communications dropped $2.62 to close at $22.75, a 10.34% drop. Interpublic Group of Cos. was down 5%, dropping $3 to close at $57; WPP Group American Depositary Receipts traded down 1.58% on the NASDAQ exchange, at $54.38, down $0.88.
Copyright August 1998, Crain Communications Inc.