Charles Schwab to take place of Biogen in S&P 100
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Charles Schwab (NYSE:SCHW)
will replace Biogen
(NASDAQ:BIIB) in the S&P 100 index. Investors, though, seemed unimpressed as Schwab falls 1.8% in early afternoon trading on Monday and Biogen rises 0.9%.
Financial stocks are under pressure as higher oil prices fuel fears of a recession and Treasury yields slipped earlier in trading.

The index change will take effect before the opening of trading on Monday, March 21, to coincide with the quarterly rebalance. Biogen (BIIB) will remain in the S&P 500.
Earlier, BellRing Brands (NYSE:BRBR) rallies after S&P Midcap 400 call-up