Shares of Charles Schwab Corp. slumped 4.2% in morning trade Tuesday, after it slashed commissions for standard online equity and exchange-traded funds trades by 29% to $4.95, to match recent cuts made by Fidelity. Commissions on options was cut to $4.95 plus 65 cents per contract. The cuts are effective March 3. Fidelity had just announced that it had cut commissions on online equity trades to $4.95, boasting that prices were below rivals TD Ameritrade Holding Corp. , Schwab and E-Trade Financial Corp. . TD Ameritrade’s stock tumbled 6.6% and E-Trade shares shed 5.5%. Schwab’s stock has now gained 4.3% over the past three months, while the S&P 500 has climbed 7.4%.
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