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Charles Schwab calls itself a ‘safe port in a storm,’ as it took in billions in new assets the past week

Charles Schwab Corp. ,
Seeking to reassure investors amid a crisis of investor confidence in the sector, it remained a “safe harbor in the storm”. The financial and discount brokerage giant said on Friday it saw “robust” inflows from clients last week, as it added a net $16.5 billion in new assets. “Charles Schwab remains a safe harbor in a storm, aided by its conservative balance sheet, strong liquidity position and diverse base of more than 34 million account holders who invest with Charles Schwab every day,” Schwab said in a statement. inspired.” Several of Schwab's officers and directors have put their money where they believe it comes from, as they bought nearly $7 million worth of in the past week. Schwab Silicon Valley Bank and have been caught in the selloff caused by the failures of .
Due to which of SVB Financial Group was formed,

Bankruptcy Friday Meanwhile, the stock fell 3.4% in Friday afternoon trading, while the Financial Select Sector SPDR exchange-traded ,
down 2.9% and the S&P 500 ,
0.9% left. While Schwab's stock has slumped 7.7% to a 2 1/2-year low of $51.91 on March 10, it's still down 26.7% since SVB's troubles became public.

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