---
title: "Schwab, Fidelity Traders Report Outages During Stock Meltdown"
description: "Charles Schwab Corp. and other retail brokerage users reported outages as a global stocks selloff surged when trading in the US market opened on Monday."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Newsdeck"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2024-08-05-schwab-fidelity-traders-report-outages-during-stock-meltdown/"
published: "2024-08-05T17:47:45"
updated: "2024-08-05T17:47:46"
lang: "en-ZA"
word_count: 225
---

# Schwab, Fidelity Traders Report Outages During Stock Meltdown

> Charles Schwab Corp. and other retail brokerage users reported outages as a global stocks selloff surged when trading in the US market opened on Monday.

By Bloomberg · Published 5 August 2024, 19:47 SAST · Updated 5 August 2024, 19:47 SAST

## Content

More than 15,000 users reported an outage at Schwab at 9:50 a.m. in New York, according to the website [Downdetector](https://downdetector.com/status/charles-schwab/)**,**but that number had dropped to more than 3,000 outages at 10:53 a.m. in New York. A company account [posted](https://x.com/CharlesSchwab/status/1820460824973979956) on the social media platform X said that some clients “may have difficulty logging in to Schwab platforms.”

Schwab fell 2.7% at 11:06 a.m. in New York on Monday. The S&P 500 Index was down 3.1%.

“Some clients may be experiencing intermittent issues on some of our platforms. We are working to resolve the issue as quickly as possible,” a Schwab spokesperson said, without confirming the size or scope of the outage. Schwab had 35.6 million active brokerage accounts as of as of June, [according](https://content.schwab.com/web/retail/public/about-schwab/schw_q2_2024_earnings_release.pdf) to its second-quarter report.

The website Downdetector also reported issues at Fidelity Investments, which the firm separately [acknowledged](https://x.com/Fidelity/status/1820462292741628042) in an X post.

“We are aware some customers experienced intermittent issues earlier today,” a Fidelity spokesperson said in an emailed statement. “This is now resolved.”

Read More:S&P 500 Nears Correction as Fragile Rally Unravels: Markets Live

The global market was [roiled over the weekend](https://www.bloomberg.com/news/articles/2024-08-05/jpm-trading-desk-says-getting-close-to-buy-the-dip-opportunity-lzh07hst) following Friday’s lackluster US jobs report and the most significant crash of Japanese equities in more than a decade.

Robinhood Markets Inc., another popular retail trading platform, was operational on Monday, according to a spokesperson.