Brokerage firms including Charles Schwab appear to be having technical issues on Monday in middle of a steep sell off for global equities.
Due to technical issues few clients may have difficulty logging in to Schwab platforms the firm said in a post on its X social media account.
“Please accept our apologies as our teams work to resolve the issue as rapid as possible. Hold time may be longer than usual.
Schwab was not only brokerage firm with social media complaints on Monday. The X account for Fidelity investments responded to few of those complaints saying that issues logging to its platform have been resolved.
Few users were reporting on social media about issues getting into their account The Dow was last down about 1000 points.
The website downdetector.com showed reported problems at other brokerage firms .
Online services at brokerage Charles Schwab and Fidelity investment faced an outage on Monday investors looking to trade on a day when various dumped threat from stocks to crypto on threat fro US recession.
Wall Streets main indexes plunged on Monday as weak data, drab second quarter earnings from tech majors and geopolitical tensions revived concerns about recession and dampened hopes of soft landing.
Schwab was down for over 3,400 users while outage reports on Fidelity peaked at more than 3500 according to outage tracking website downdetector.com.
Vanguard saw almost 2500 outage reports the website showed.
Early in morning Robinhood Markets the platform of choice for retail investors said it had resumed overnight trading after a pause.
The company lets users trade select stocks and exchange traded funds 24 hours.
Fight of high market volatility can sometimes trigger technical problem which raise question about capacity of brokerages to handle high volumes.