Charles Schwab stock just notched its worst month since 1987 as fears of banking contagion flared
just had its worst month in nearly 35 years on mounting concerns around banking contagion and high interest rates continue to weigh on investor sentiment.
Shares of the brokerage giant fell 33% between in March, its weakest performance since the month of the 1987 stock-market crash. That wiped out more than $47 billion of the company's market value. The losses came amid a crisis of confidence in the sector after a slew of high-profile failures like Silicon Valley Bank, with concerns only amplifying when UBS was forced to buy out Swiss lender Credit Suisse. In the case of SVB, the firm was left flat-footed by interest-rate hikes that resulted in risk-free government securities yielding more than what they were offering clients.
While analysts and the company's own CEO have sought to distance Schwab from SVB-adjacent turmoil, stock investors have been spooked by the roughly
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