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Fidelity, Schwab Trading Platforms Glitch Amid Stock Market Rout

Traders work on the floor of the New York Stock Exchange (NYSE) on August 05, 2024, in New York City

Spencer Platt / Staff / Getty Images

Key Takeaways

  • Trading platforms of prominent retail brokerages faced technical issues amid a stock market rout Monday.
  • Clients of Fidelity and Charles Schwab reported issues logging into the trading platforms, the companies confirmed on X.
  • The issues for Schwab and Fidelity were resolved after a few hours by Monday afternoon.
  • DownDetector, a third-party app that tracks user-reported outages, showed a spike in number of issues reported for Schwab, Fidelity, E*Trade, and Vanguard.

Clients of Fidelity and Charles Schwab (SCHW) faced issues logging in and placing trades on their trading platforms Monday as the 澳洲幸运5官方开奖结果体彩网:global sell-off in stocks inten🐟sified.

Major U.S. stock indexes f🦩ell sharply in intraday trading Monday, with the Dow, S&P 500, and Nasdaq all falling over 2% amid worries about the U.S. economy.

Inability to place trades using their brokerage accounts left many users irate as the compani💟es turned to X to calm nerves.

Schwab customers had trouble logging into the brokerage platforms and faced longer than usual hold times with customer service, but at 12:38 p.m. Eastern the company said that the problem had been resolved.

Fidelity also confirmed the issues on X in response to cl෴ient complaints, though it said that the issue had been resolved as of 10:46 a🐈.m. Eastern.

"We are aware some customers may have experienced issues logging in to Fidelity platforms earlier today. This is now resolved. We apologize for any inconvenience," Fidelity posted.

DownDetector, a third-party app that tracks user-reported outages, showed a spike in issues reported for Schwab, Fidelity, Morgan Stanley's (MS) E*Trade, and Vanguard a few minutes before markets opened Monday.

Morgan Stanley and Vanguard did not immediately🐻 respond to requests for comments regar🐈ding the outages.

Update, Aug.5, 2024: This article has been updated to reflect that Fidelity and Charles Schwab trading outages have been resolved.

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