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 fell 120.72 points, or 0.69 percent, to 17,419.75, the S&P 500 lost 16.28 points, or 0.78 percent, to 2,083.56 and the Nasdaq Composite dropped 83.50 points, or 1.62 percent, to 5,056.44.

(Reporting by Noel Randewich; Editing by Meredith Mazzilli)