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Charles Schwab Stock Drops 2.6% on High Volume As Market Declines

  • Charles Schwab stock fell 2.58% on Friday
  • Underperformed the market and competitors like Blackstone and Morgan Stanley
  • Trading volume was high at 23.5M shares vs 9.8M average
  • Stock closed well below 52-week high of $86.63
  • Drop attributed to overall market decline on Friday
marketwatch.com
Relevant topic timeline:
Shares of Kroger Co. slid 0.30% as the stock market experienced an overall positive trading session, with the S&P 500 and Dow Jones Industrial Average both rising.
The Charles Schwab Corporation closed at $59.68, down 1.36% from the previous day, and is expected to report lower earnings and revenue in its upcoming release.
Tesla's stock slid 1.78% as the overall stock market experienced a rough trading session.
Microsoft Corp. shares slipped 0.20% as the stock market experienced a rough trading session, with the S&P 500 and Dow Jones Industrial Average also falling.
Netflix shares slipped 2% after Chief Financial Officer Spencer Neumann stated that the ongoing Hollywood writers' strike is negatively impacting their business, with Neumann also expressing that the ad-supported streaming option will not boost revenue in the short term and predicting slower growth in operating margins moving forward.
Shares of Microsoft Corp. fell 2.50% as the stock market experienced a dismal trading session, ending its two-day winning streak.
Shares of Bajaj Finance Ltd. inched up 0.70% as the stock market experienced a rough trading session, with the S&P BSE Sensex Index falling 0.36%.
Rolls-Royce Holdings' shares slipped by 1.02%, closing below its 52-week high.
The Anheuser-Busch InBev S.A. ADR stock slipped 0.69% amid a generally negative trading session, marking its fourth consecutive day of losses.
Wall Street stocks slipped as investors reviewed data on the US economy, with the S&P 500 and the Dow Jones Industrial Average trading slightly lower, and the Nasdaq Composite dropping further; the 10-year Treasury yield continued to rise, and oil prices turned lower after hitting new highs.
Tesla stock slipped 2.02%, ending a three-day winning streak, as the overall market experienced a poor trading session, with both the NASDAQ Composite Index and Dow Jones Industrial Average falling.
Bitcoin slipped just under 1% in the past 24 hours as bearish calls among analysts, including Jim Cramer, grew, while overall market capitalization lost 0.3%.
Stocks slipped as rising yields in the bond market and new inflation news put pressure on Wall Street, with the S&P 500, Dow, and Nasdaq all experiencing losses.