💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Financial firm websites falter Monday amid Dow's downturn

Published 02/05/2018, 07:10 PM
Updated 02/05/2018, 07:20 PM
© Reuters. The final numbers of the day are shown above the floor of the New York Stock Exchange in New York
DJI
-
SCHW
-

NEW YORK (Reuters) - Several major financial services firms faced technical service glitches on their apps or websites during Monday's volatile trading session, according to the companies and a monitoring service.

Investment firms T. Rowe Price Group Inc. and Vanguard Group apologized to customers for sporadic outages on their websites during the Dow industrials' 1600-point downturn, and said that full service had been restored.

DownDetector.com, which monitors concerns and customer complaints about technical issues on Twitter and elsewhere, reported that the online brokerages TD Ameritrade and Charles Schwab (NYSE:SCHW) also experienced issues.

Customers of the affected firms took to social media to complain about the glitches, as they struggled to access their accounts.

Schwab spokeswoman Mayura Hooper said that because of heightened demand on Monday, some customers experienced a delay when logging on to one of the firm's trading applications, and that the issue was resolved within a few minutes.

TD Ameritrade did not immediately respond to a request for comment.

T. Rowe tweeted at around 5 p.m. (1000 GMT): "We sincerely regret the inconvenience caused by the recent outage and would like you to know that the website is now available."

Vanguard spokeswoman Emily Farrell said the company was aware clients had experienced difficulties online and on Vanguard's mobile service, and that both were working again properly.

© Reuters. The final numbers of the day are shown above the floor of the New York Stock Exchange in New York

Technical outages are a particularly sensitive matter for Vanguard, which has faced glitches with its systems in recent years. Company leaders, including Vanguard's new chief executive Tim Buckley, have vowed to address matters by spending more on technology and hiring new workers.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.