On Monday, online services at brokerages Charles Schwab and Fidelity Investments experienced significant outages as many investors sought to offload risky assets amid fears of a potential U.S. recession.
Users reported difficulties logging into their accounts, a problem that the trading apps confirmed without further details.
On the Charles Schwab site, a warning notice said, "Due to a technical issue, some clients may have difficulty logging in to Schwab platforms and may have difficulty reaching us by phone. Please accept our apologies as our teams work to resolve the issue as quickly as possible."
Wall Street's main indexes plummeted, driven by weak economic data, disappointing second-quarter earnings from major technology firms, and rising geopolitical tensions, which reignited recession concerns and dampened hopes for a soft landing.
Earlier today, Robinhood Markets, a popular platform among retail investors, stated it had resumed overnight trading after a temporary pause.
