Retail Traders Face Technical Issues During US Stock Market Rout

Published on August 5, 2024

Thousands of frustrated online brokerage users faced service disruptions amid a market selloff for the third consecutive trading session, according to data from the outage tracking website Downdetector.com. At the start of the opening bell on the New York Stock Exchange (9:30 a.m. EST) on Aug. 5, there were as many as 15,000 reports of outages on the Charles Schwab platform. Fidelity, TD Ameritrade, and Vanguard experienced between 1,750 and 3,600 users reporting disruptions at the peak of the downtime. Outage reports were steadily decreasing throughout the trading day. “Due to a technical issue, some clients may have difficulty logging in to Schwab platforms,” the financial institution stated on social media platform X. “Please accept our apologies as our teams work to resolve the issue as quickly as possible.”...

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