US online brokerages experienced downtime as the market opened, with concerns of a potential stock market rout.
DownDetector reported multiple issues at several leading online brokerage firms, including Charles Schwab, Fidelity Investments, Vanguard, Robinhood, and TD Ameritrade. The outages coincided with a surge in sell orders, as weak market forecasts unsettled investors. This prompted a swift exit from over-hyped sectors, particularly in AI and cryptocurrency.
Schwab reported issues affecting more than 15,300 users, while Fidelity experienced over 3,000 outage reports, according to Downdetector. Robinhood, Vanguard, and TD Ameritrade also faced a significant influx of complaints from frustrated users.