Schwab Eyes Worst Month Since 1987 as Cash Shifts to Money Funds

Shares of the firm have plunged 34% in March, set to be their biggest drop since October 1987, the month when the biggest single-day stock market crash, dubbed Black Monday, occurred. The rout has wiped out $47 billion in market value from Schwab, roughly equivalent to the size of Truist Financial Corp.

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