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Why Charles Schwab Is Taking a Beating Along With Bank Stocks
On Thursday, bank stocks got hammered, and so did shares of Charles Schwab which dropped 13%. No doubt many investors are scratching their heads as to why Schwab (ticker: SCHW) would fall in line with bank stocks. Last year, Schwab generated more than $10 billion of net interest revenue, which represented about half its total annual revenue, according to the company’s fourth-quarter earnings report.
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