Fidelity, Schwab Trading Platforms Glitch Amid Stock Market Rout

Clients of Fidelity and Charles Schwab (SCHW) faced issues logging successful and placing trades connected their trading platforms Monday arsenic nan global sell-off successful stocks intensified.

Major U.S. banal indexes fell sharply successful intraday trading Monday, pinch nan Dow, S&P 500, and Nasdaq each falling complete 2% amid worries astir nan U.S. economy.

Inability to spot trades utilizing their brokerage accounts near galore users irate arsenic nan companies turned to X to calm nerves.

"Due to a method issue, immoderate clients whitethorn person trouble logging successful to Schwab platforms. Please judge our apologies arsenic our teams activity to resoluteness nan rumor arsenic quickly arsenic possible. Hold times whitethorn beryllium longer than usual," Schwab posted connected X.

Fidelity besides confirmed nan issues connected X successful consequence to customer complaints, though it said that nan rumor had been resolved arsenic of 10:46 a.m. Eastern.

"We are alert immoderate customers whitethorn person knowledgeable issues logging successful to Fidelity platforms earlier today. This is now resolved. We apologize for immoderate inconvenience," Fidelity posted.

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

The brokerages did not instantly respond to requests for comments regarding nan outages.