Charter stock heads for worst day on record as spending plans spook Wall Street

Charter Communications Inc. has big spending plans, and that has some investors heading for the hills.

The telecommunications company and operator of the Spectrum brand laid out its 2023 capital-expenditure forecast at a late Tuesday investor day, The company forecasts $6.5 billion to $6.8 billion in full-year capex, excluding those from line extensions, along with $4 billion in capex from those line extensions.

Taken…