The Yahoo Finance Live team discusses the latest for Roku's stock after it was announced the company held around $480 million in largely uninsured deposits at Silicon Valley Bank. Read More...
Reuters
Charles Schwab’s drop in margin balances fans SVB contagion jitters
(Reuters) -Charles Schwab on Monday reported a 28% decline in average margin balances and a 4% fall in total client assets for February, piling more pressure on the company amid fears over the fallout from Silicon Valley Bank’s collapse. Its shares tumbled as much as 18% before paring losses to trade about 8.8% down at $53.6 after the company sought to allay investor worries over its liquidity levels and deposits. Charles Schwab said it has “access to significant liquidity” including an estimated $100 billion of cash flow from cash on hand, portfolio-related cash flows, and net new assets that the company expects to realize over the next 12 months.
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