Charles Schwab Slashes Stock, ETF Trading Fees; TD Ameritrade, E-Trade Hit

TD Ameritrade (AMTD) and E-Trade Financial fell hard Thursday after Charles Schwab (SCHW) announced it would cut its trading commissions starting Feb. 3.

Schwab said it would cut its commissions on stocks and ETFs to $6.952 from $8.95, undercutting its competition including Fidelity, Vanguard, TD Ameritrade and E-Trade, according to the company's release.

Schwab shares skidded 4.25% to 39.58 in afternoon trading on the stock market today, dropping below their 50-day moving average. But...

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