Wealth
Billionaires Peterffy, Ricketts Squeezed as Schwab Cuts Fees
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It was a tough day for the billionaire founders of the biggest online brokerages.
Shares of Interactive Brokers Group Inc. and TD Ameritrade Holding Corp. tumbled Tuesday after Charles Schwab Corp. said it planned to eliminate commissions for U.S. stocks, exchange-traded funds and options.