Charles Schwab, E*Trade, and TD Ameritrade have seen a combined $18 billion in market value erased as the brokerage-fee war has ramped up

Eliminating all fees on online trades means revenues will take a hit and could negatively impact earnings, a major driver of share growth.

Large brokerage stocks have taken a hit since the price wars escalated Monday, with several major players cutting fees on stock and exchange-traded fund transactions to zero. Charles Schwab has lost $8.5 billion in market value since Monday, while E*Trade has shed $2 billion and TD Ameritrade has seen $7.5 billion erased over the same period. Cutting fees on trades to zero eliminates revenue streams for the traditional brokerages. Read more on Business Insider.

Large brokerage stocks have taken a hit since the price wars escalated Monday, with several major players cutting fees on stock and exchange-traded fund transactions to zero. Charles Schwab has lost $8.5 billion in market value since Monday, while E*Trade has shed $2 billion and TD Ameritrade has seen $7.5 billion erased over the same period. Cutting fees on trades to zero eliminates revenue streams for the traditional brokerages. Read more on Business Insider.

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