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| Economy |
| Charles Schwab Loses $47 Billion in Market Value in One Month |
| 2023-04-03 |
| [The Street] A disastrous month of March is what Charles Schwab has just experienced. In the Westlake, Texas-based financial company, the month that just ended can be considered a real disaster. An avalanche of bad news fell on the firm. The stock fell 33% between Feb. 28 and March 31. At the end of February, Charles Schwab's shares were trading at around $77.92. A month later, the price fell to $52.38. The difference translates to more than $47 billion in market capitalization wiped out in just one month. According to Bloomberg News, this is Charles Schwab's worst month since the October 1987 stock market crash, known as Black Monday. That day, the Dow Jones index lost 508 points, a decline of 22.6% and the largest daily decline in a stock market index at the time. Only the drop by 76% of the Icelandic stock market in 2008 would exceed this record. |
| Posted by:Besoeker |
| #8 NN2N1 it's not a swamp, it's a sewer. |
| Posted by: Deacon Blues 2023-04-03 13:10 |
| #7 When treasury i-bonds yield 6.4% interest, why keep money in a bank that yields 1.3% interest? Just another way of fed f..king! |
| Posted by: Papa Cookie 2023-04-03 11:47 |
| #6 Who says you can't take it with you? |
| Posted by: M. Murcek 2023-04-03 10:18 |
| #5 /\ "Life is short and death is certain." I brought nothing coming in. I'll take nothing going out. |
| Posted by: Besoeker 2023-04-03 09:48 |
| #4 Ask yourself! What do YOU OWN that the Local. State or Feds do not tax, and will be taken or you placed in jail, if you don't pay? Before you say AIR, remember the indirect taxes for the Clean Air Act. The DC Swamp would do well to remember, the America Revolution was started over a small tax on tea. |
| Posted by: NN2N1 2023-04-03 08:46 |
| #3 Aside from being woke, there are other problems: Schwab has the same problems as struck Silicon Valley Bank, i.e., it "invested in long-dated bonds during a period of historically low interest rates and is stuck with losses on those investments as the Federal Reserve has increased interest rates over the last year." |
| Posted by: Slavising Unineting5672 2023-04-03 08:38 |
| #2 When you're 35 years old, a paper loss is not a big deal. When you're 75, it's a pretty big deal. Can anyone say, 'death tax?' |
| Posted by: Besoeker 2023-04-03 07:37 |
| #1 In other words, Charles Schwab investors lost $47B. |
| Posted by: NN2N1 2023-04-03 06:20 |