News Corp. Stock Falls Amidst Phone Hacking Scandal

News Corp. stock was down as much as 5 percent Wednesday afternoon, falling as low as $17.17 after closing at $18.54 on Tuesday.

At least one analyst thinks this may only be a blip on the radar unless government action follows. “There is headline risk involved, but as time goes on, historically speaking, investors tend to detach themselves,” said Tuna Amobi, an equity analyst with Standard & Poor’s.