Reported declines in the consumer-inertia basket

Percent change in share price, September 22–23, 2026 · bar length scaled to 6%
Charles Schwab
−5.0%+
Brokerage. Reported down more than 5% on the day the selloff spread from banks to brokers. Switching a brokerage account is the definition of friction an agent can remove.
Allstate
−5.0%+
Insurer. Reported down more than 5%. Nobody re-shops an insurance renewal by hand — which is exactly the habit an agent breaks, and exactly what Goldman Sachs said to watch.
Expedia
−3.7%
Travel marketplace. Comparison is the product. If the agent compares and books directly, the marketplace's role narrows to a booking rail.
Booking Holdings
−2.6%
Travel marketplace. −2.6% on September 22 as reported by Bloomberg and the Los Angeles Times, with agents named as the pressure.
JPMorgan Chase
−2.5%+
Bank. Reported down more than 2.5%. Deposits and cards are the classic consumer-inertia business: you stay because moving is a chore, not because the terms are best.
Wells Fargo
−2.5%+
Bank. Reported down more than 2.5% — its steepest single-day fall since May, per market coverage of the session.
S&P 500 Financials
−2.0%
The index. Nearly 2% lower to its lowest close since July, while the wider market was roughly flat — the clearest evidence this was a repricing of one business model, not a market-wide move.
Share-price change as reported for the September 22–23 sessions
Read this as directional, not precise. The index and Booking figures come from Bloomberg and the Los Angeles Times; the bank, insurer and broker figures come from aggregated market coverage of the same sessions. Outlets measured different points in the day, so exact percentages differ slightly between reports. Hover any bar for what the move means.