CEO Jane Fraser targets 'flatter and leaner' organization.
Treasuries also steadied in early trade Tuesday.
Ratings downgrade follows action from Moody's two weeks ago.
The fund aimed to track the stocks picked by CNBC's Jim Cramer.
The downsizing will cost Schwab $400 million to $500 million, it says in a regulatory filing.
Major firm reportedly considering restructuring one of its key operations.
Investors remain concerned about tighter policy amid stubborn inflation.
Loading up on government bonds hasn't paid off, yet.
Veteran investor Jeremey Grantham says the central bank is kidding itself if it thinks the economy will stay positive.
Chaos in markets heading for worst losses in almost a year.
