Online broker

Ameritrade

(AMTD) - Get TD Ameritrade Holding Corporation Report

was down 8.1% in midmorning trading after hitting a 52-week low of $6.50. The company said it will lay off 230 people due to a decrease in market volume in recent months.

Other online brokerages were also down.

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E-Trade

(EGRP)

was off 4.5%.

Charles Schwab

(SCH)

was down 1.5%.