Financial Sites Including Schwab, Fidelity, And Vanguard Experience Outages As Stocks Decline

Forbes Business Breaking Financial Sites Including Schwab, Fidelity, And Vanguard Experience Outages As Stocks Decline Ty Roush Forbes Staff Ty Roush is a breaking news reporter based in New York City. Following Aug 5, 2024, 10:49am EDT Share to Facebook Share to Twitter Share to Linkedin Topline Thousands of users reported outages for several online
Financial Sites Including Schwab, Fidelity, And Vanguard Experience Outages As Stocks Decline

Financial Sites Including Schwab, Fidelity, And Vanguard Experience Outages As Stocks Decline

Following

Topline

Thousands of users reported outages for several online trading platforms on Monday as all three major indexes fell sharply, according to Downdetector.

Key Facts

Charles Schwab said the company was experiencing “technical difficulties” while its website was temporarily unavailable, with over 15,000 users reporting issues at around 10 a.m. EDT, including 42% indicating outages with the company’s mobile brokerage and 36% who say they have problems with its online brokerage, according to Downdetector.

Some users may have difficulty logging in to Schwab’s platforms, while hold times may be longer than usual, the company said.

Over 2,000 users reported outages at Fidelity Investments, nearly 3,000 reported outages at Vanguard and just over 1,000 reported outages at TD Ameritrade.

Smaller outages were also reported at Robinhood and E-Trade.

None of the companies immediately responded to requests for comment from Forbes.

Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here.

Key Background

The Dow Jones Industrial Average fell over 1,000 points as the S&P 500 (3%) and Nasdaq (3.7%) indexes also dropped on Monday. This paces the Dow’s and S&P 500’s worst loss since late 2022, while the tech-heavy Nasdaq is on track for its steepest decline since early 2020. Shares were down for each of the “magnificent seven” companies: Apple opened down 8%, Microsoft 5%, Nvidia 14%, Alphabet 6%, Amazon 8%, Meta 7% and Tesla 11%. The seven lost a combined $1.2 trillion in market value in the minutes after trading began, with Apple and Nvidia stocks pacing its worst drops since 2020. A widespread selloff follows last week’s jobs report, indicating the U.S. economy added fewer jobs than expected and an increase in unemployment.

Further Reading

ForbesBig Tech Falters: Magnificent 7 Sheds Over $1 Trillion As Apple, Nvidia Stocks Head To Worst Days Since 2020

Follow me on  TwitterSend me a secure  tip

Exxon acquiring Pioneer for nearly $60 billion, a  mysterious respiratory illness affecting dogs across the U.S. and the  challenges against transgender health care. Before joining Forbes, he covered the Black Mountain, North Carolina community for the Asheville Citizen Times. Ty earned his bachelor’s degree in journalism from Auburn University and his master’s degree in journalism from Northwestern University. Email him at  troush@forbes.com.

“>

Total
0
Shares
Leave a Reply
Related Posts
Josh Shapiro Hits Back at JD Vance for ‘Weird’ Obama Insult
Read More

Josh Shapiro Hits Back at JD Vance for ‘Weird’ Obama Insult

Pennsylvania Governor Josh Shapiro hit out at Republican vice presidential nominee JD Vance over a "weird" insult that accused him of imitating former President Barack Obama. Shapiro, a popular governor in a swing state, is a leading candidate to become the running mate of Vice President Kamala Harris, the presumptive Democratic presidential nominee. She is
How flip-flopping Kamala Harris went from wanting more cops in black communities to backing ‘Defund the Police’… and now wants another reboot
Read More

How flip-flopping Kamala Harris went from wanting more cops in black communities to backing ‘Defund the Police’… and now wants another reboot

When Vice President Kamala Harris ran for Attorney General of California in 2010, her ad production imitated the tense proficiency of a Law and Order episode. ‘Our justice system needs drastic repair,’ Harris said as she walked confidently with law enforcement officers, hair blowing in the wind as a helicopter buzzed overhead.  The ad, featuring
Donald Trump Returns To X Ahead Of Elon Musk Interview—Tweeting For First Time In A Year
Read More

Donald Trump Returns To X Ahead Of Elon Musk Interview—Tweeting For First Time In A Year

Forbes Business Breaking Donald Trump Returns To X Ahead Of Elon Musk Interview—Tweeting For First Time In A Year Molly Bohannon Forbes Staff Molly Bohannon has been a Forbes news reporter since 2023. Following Aug 12, 2024, 02:39pm EDT Share to Facebook Share to Twitter Share to Linkedin Topline Former President Donald Trump posted on