The 20-company Billboard Global Music Index fell 3.7% to 2,896.56, its second consecutive drop.
Spotify and other streaming companies were the standouts in a six-month period marred by tariff uncertainty.
Although 14 of the 20 stocks in the Billboard Global Music Index lost value, it declined just 0.2% as many of the companies with the biggest impact fared well.
The K-pop company's stock declined 6.8% for the week ended May 30 as the 20-company Billboard Global Music Index was unchanged.
The 20-company Billboard Global Music Index gained 0.2%, its seventh consecutive weekly gain.
The Billboard Global Music Index rose 3.1% to an all-time high of 2,794.37, surpassing the previous record of 2,755.53 set on Feb. 14.
Warner Music Group shares fell 9.6% this week following the company's quarterly earnings release on Thursday (May 8).
Universal Music Group, Spotify, Live Nation and Deezer also posted gains following their quarterly earnings reports.
Cumulus Media shares fell 16% after the company announced it would be de-listed from the Nasdaq exchange.
While many music stocks rebounded after the U.S. Treasury paused tariffs for 90 days, only Live Nation has posted a gain over the last two chaotic weeks.
