Stock trading platforms suffer tech problems amid market mayhem

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Investors reported problems buying and selling stocks on at least half a dozen major trading platforms during a volatile market session on Wednesday.

Users were struggling to carry out online trades through both Charles Schwab and TD Ameritrade, which Schwab acquired last year, according to outage-tracking website Downdetector.

Schwab confirmed the problems on Twitter, urging investors not to place trades multiple times while it sorted out the issues.

“Due to a technical issue, some clients are experiencing issues with online trading. We’re working to resolve the issue as quickly as possible,” the company tweeted.

Robinhood, another popular app targeted at retail investors, reported a “service disruption” to its web app while its cryptocurrency trading platform suffered a major outage. The company said it’s working to fix the issues “as soon as possible.”

And Pennsylvania-based investment giant Vanguard Group said some clients were “experiencing difficulty accessing their accounts” on its website. 

Investors were also having problems with the Fidelity and E-Trade platforms within an hour of Wednesday’s opening bell, Downdetector reports showed. The outage reports were concentrated in New York, Boston, Chicago and Washington, DC.

The problems came as traders rushed to buy and sell shares of GameStop, the video-game retailer that’s been pumped up by Reddit users aiming to squeeze bigger investors who bet against the stock.

That came alongside a tumble in the broader market. The Dow Jones industrial average was recently down about 1.2 percent, or 369.34 points, at 30,567.70, while the S&P 500 was also recently off about 1.2 percent.

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