{"id":461057,"date":"2026-02-10T23:38:09","date_gmt":"2026-02-10T23:38:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/461057\/"},"modified":"2026-02-10T23:38:09","modified_gmt":"2026-02-10T23:38:09","slug":"the-ai-threat-wrecked-software-stocks-now-financial-stocks-look-next-with-lpl-closing-8-lower","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/461057\/","title":{"rendered":"The AI threat wrecked software stocks. Now financial stocks look next with LPL closing 8% lower"},"content":{"rendered":"

Traders work at the New York Stock Exchange on Feb. 10, 2026.<\/p>\n

NYSE<\/p>\n

Shares of financial services firms tanked Tuesday after the launch of a new tax planning tool powered by artificial intelligence that promises to do the work “within minutes.”<\/p>\n

LPL Financial<\/a> closed 8.31% lower after tumbling 11% in midday trading, while Charles Schwab<\/a> fell 7.42% and Raymond James Financial<\/a> lost 8.75% amid fears that AI will disrupt their industry next. Morgan Stanley<\/a> dropped 2.4%.<\/p>\n

Tech platform Altruist announced the offering<\/a> within its AI platform, Hazel, and said it “helps advisors create fully personalized tax strategies for clients by reading and interpreting their 1040s, paystubs, account statements, meeting notes, emails, and custodial and CRM data, and applying deep tax logic to the analysis.” <\/p>\n

Stock Chart IconStock chart icon\"hide<\/p>\n

LPL Financial, 5 days<\/p>\n","protected":false},"excerpt":{"rendered":"Traders work at the New York Stock Exchange on Feb. 10, 2026. NYSE Shares of financial services firms…\n","protected":false},"author":2,"featured_media":461058,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,181,507,116,122,19777,2910,177316,215100,204617,215102,215101,112,1535,17993,21217,74],"class_list":{"0":"post-461057","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-breaking-news-markets","12":"tag-business-news","13":"tag-charles-schwab","14":"tag-charles-schwab-corp","15":"tag-financials","16":"tag-investment-banking-and-brokerage","17":"tag-ishares-north-american-tech-software-etf","18":"tag-ishares-u-s-broker-dealers-securities-exchanges-etf","19":"tag-lpl-financial-holdings-inc","20":"tag-markets","21":"tag-morgan-stanley","22":"tag-raymond-james-financial-inc","23":"tag-tax-planning","24":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/461057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=461057"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/461057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/461058"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=461057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=461057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=461057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}