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Stock impact report

Brokerage stocks are the latest corner of the market getting slammed by AI disruption fears [Business Insider]

LPL Financial Holdings Inc. (LPLA) 
Last lpl financial holdings inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.lpl.com
Have an account? Log in AI is shaking up another corner of the stock market on Tuesday. Following last week's rout in software, financial brokerage shares are getting hit. A company called Altruist Hazel introduced an AI tax planning tool that's made investors nervous. Another week, another round of jitters caused by fears of widespread AI disruption. On Tuesday, financial firms and brokerages saw their shares fall as tech firm Altruist boasted its new Hazel AI tool could assist with tax planning for clients "within minutes." Here were the big moves on Tuesday: LPL Financial Charles Schwab Corporation Raymond James Stifel Financial The iShares U.S. Broker-Dealers & Securities Exchanges ETF was down 4%. The fear isn't explicitly tied to the tax services these companies provide, but rather that cheap AI tools will soon be more widely available for a range of financial services offered by big companies, eating into margins. It's a nearly identical fear that sho Show less Read more
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