The global market was roiled over the weekend following Friday’s lackluster US jobs report and the biggest crash of Japanese equities in over a decade.
August 5, 2024
Paige Smith (Bloomberg)
Charles Schwab Corp. and other retail brokerage users reported outages as a global stocks selloff surged when trading in the US market opened on Monday.
More than 15,000 users reported an outage at Schwab at 9:50 a.m. in New York, according to the website Downdetector, but that number had dropped to more than 3,000 outages at 10:53 a.m. in New York. A company account posted on the social media platform X said that some clients “may have difficulty logging in to Schwab platforms.”
Schwab fell 2.7% at 11:06 a.m. in New York on Monday. The S&P 500 Index was down 3.1%.
“Some clients may be experiencing intermittent issues on some of our platforms. We are working to resolve the issue as quickly as possible,” a Schwab spokesperson said, without confirming the size or scope of the outage. Schwab had 35.6 million active brokerage accounts as of as of June, according to its second-quarter report.
The website Downdetector also reported issues at Fidelity Investments, which the firm separately acknowledged in an X post.
“We are aware some customers experienced intermittent issues earlier today,” a Fidelity spokesperson said in an emailed statement. “This is now resolved.”
Read More: S&P 500 Nears Correction as Fragile Rally Unravels: Markets Live
The global market was roiled over the weekend following Friday’s lackluster US jobs report and the most significant crash of Japanese equities in more than a decade.
Robinhood Markets Inc., another popular retail trading platform, was operational on Monday, according to a spokesperson.
Paige Smith (Bloomberg)
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