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Vanguard's ambition to expand in financial advice is causing some trepidation among investors in the industry's incumbents. Shares of Charles Schwab and LPL Financial were off more than 2% in morning trading Wednesday after Vanguard announced the acquisition of Altruist, a fintech wealth management platform. Altruist competes with Schwab to custody assets on behalf of financial advisers, and offers AI tools for tax and financial planning.

A selloff in chipmakers sent stocks lower, with the market also falling as inflation angst and rising government debt kept bond yields elevated. Longer-dated bonds are at the epicenter of anxiety about everything from inflation to the debt-laden artificial-intelligence boom. Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, discusses the gap between sell-side consensus and buy-side expectations.

The brokerage beat analyst estimates on profit and revenue, then raised its full-year guidance, but Schwab stock ended the day down 2.5%

Markets face a potentially volatile week as AI bubble fears intensify amid concerns that technology sector repricing has not yet reached equilibrium, coinciding with earnings season ramping dramatically through late July.

Retail investors who sell SpaceX IPO shares too quickly could lose access to future IPO allocations through brokers including Fidelity, SoFi, Robinhood, and E*Trade.

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