Some top brokerages reportedly go down as the market tanks
Fidelity confirmed to Business Insider that intermittent issues on Monday had been resolved, while another said there were no widespread outages.
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- Top brokerages had some outages on Monday morning, according to Downdetector.
- Fidelity told Business Insider that the issues had been resolved.
- The outages arrived amid a global markets meltdown.
Some top brokerage firms were hit by online outages Monday as the global market continued its melt down, according to user reports.
Downdetector, which tracks user reports of outages across the web, noted spikes in issues with brokerages, including Charles Schwab, Fidelity, Vanguard, TD Ameritrade, E-trade, and Interactive Brokers.
Users on social media wrote Monday morning that they weren't able to get into their accounts.
Fidelity confirmed to Business Insider that some customers experienced issues Monday morning, but they had since been resolved.
But Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, said the firm didn't know of any "wide outages."
"As of 11 a.m. ET we have 5 million trades," he told BI. "Friday we had 5.9 million all day, which was already a busy day."
None of the other firms immediately responded to requests for comment from BI. As of 11:30 a.m. ET, many of the reports of outages for the brokerages had died down, according to Downdetector.
It's not clear what caused the outages or how widespread they were; Some, like GOP firebrand Rep. Marjorie Taylor Green, immediately suggested without evidence that the outages were intentional.
"Go ahead, call me a conspiracy theorist, I could care less," Green wrote.
The Dow plunged more than 1,000 points on Monday as fears of a global recession deepened.
The decline in markets around the world followed poor earnings reports by major tech players like Amazon, a weak US jobs report, and the sudden strengthening of the yen in Japan.
Traders are now pinning their hopes on an emergency interest rate cut by the Fed, which rarely makes such moves outside scheduled policy meetings.