Schwab STAX drops to 50.10 in April as retail clients cut tech exposure

Charles Schwab Corp
S&P 500 index

Charles Schwab Corp

SCHW

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S&P 500 index

SPX

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  • Charles Schwab STAX fell to 50.10 in April from 56.04 in March, signaling lower retail trading activity and risk appetite.
  • Rotation out of higher-beta single stocks into broad, lower-beta ETFs accelerated, pointing to weaker sentiment.
  • Clients cut exposure across nine of 11 S&P 500 sectors, with buying concentrated in defensive Consumer Staples and Utilities.
  • Information Technology saw heaviest net selling, despite a semiconductor rally that lifted PHLX Semiconductor Index 47% over STAX period.
  • Market exposure declined across all age groups, with most active traders dropping to lowest exposure since December.


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