On June 18, Charles Schwab declined 3.02% in regular trading, trading at $91.71/share, with turnover of $590 million. The decline was driven by the Federal Reserve's decision to maintain interest rates at 3.5%-3.75% unchanged for the fourth consecutive meeting, combined with growing expectations of a potential rate hike.

Charles Schwab Hong Kong Senior Vice President Lin Chang-jie stated that the Fed is expected to remain cautious in the near term, with policy likely to stay on hold until clearer evidence emerges that inflationary pressures have irreversibly subsided. He noted that even with a new Fed Chair in place, easing policy in the short term remains unlikely. Additionally, Schwab Center for Financial Research's fixed income head Collin Martin previously indicated that with the labor market remaining robust amid persistent price pressures, the threshold for a Fed rate hike is declining. Sustained high interest rates and potential rate hike expectations weigh on Charles Schwab's core wealth management and brokerage operations.

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