Financial services companies, including Charles Schwab, experience a global tech outage.

Financial services companies, including Charles Schwab, experience a global tech outage.
Financial services companies, including Charles Schwab, experience a global tech outage.
  • On Friday, some investors faced disruptions at financial services companies, including Charles Schwab, during a global IT outage.
  • The website stated that some online features might be sluggish or inaccessible at times, while the app alerted users about duplicate trades.
  • DownDetector did not show significant outage reports for Vanguard or Fidelity.

On Friday, some investors faced disruptions at financial services companies, including one of the country's largest brokerage firms, amid a global IT outage.

The problems originated from a problematic software update from CrowdStrike, which impacted companies globally, including airlines, banks, and media outlets.

CrowdStrike CEO George Kurtz stated that the company is currently collaborating with customers affected by a faulty update for Windows hosts.

Paycheck advance programs are being scrutinized by the CFPB. The implications for workers are being considered. The Education Department has halted student loan payments for millions due to a legal battle. The election's impact on the municipal bond market is being analyzed by experts.

Around 10 a.m. ET on Friday, Charles Schwab reported approximately 500 user-reported online outages, according to DownDetector.

Charles Schwab's website displayed a banner stating that certain online features might experience slow or unavailable intermittent issues, and phone services may have longer hold times.

The company advised users against placing duplicate trades through its app, stating that it may result in the creation of multiple trades. The company is currently collaborating with the vendor to address the issue.

Charles Schwab did not immediately respond to CNBC's request for comment.

DownDetector did not show significant outage reports for Vanguard or Fidelity.

"Despite a widespread third-party outage, Vanguard's portfolio management trading functions are functioning normally across all regions, with no impact on products or pricing. A Vanguard spokesperson stated that they are closely monitoring and assessing the situation, and are working tirelessly to maintain business continuity for their clients worldwide."

CNBC reported that Fidelity stated it was aware of the problems but they did not seem to affect the company at midday on Friday.

CrowdStrike CEO George Kurtz explains the cybersecurity firm's next steps after global outage
by Kate Dore, CFP®

Investing

H&M's profit miss and abandoned earnings margin target cause shares to drop by up to 8%.

H&M's profit miss and abandoned earnings margin target cause shares to drop by up to 8%.

Investing
To prepare for market volatility with more interest rate cuts, investors can take the following steps.

To prepare for market volatility with more interest rate cuts, investors can take the following steps.

Investing
A Yale professor says that the 'gender pay gap' contributes to the wealth disparity between men and women.

A Yale professor says that the 'gender pay gap' contributes to the wealth disparity between men and women.

Investing
An advisor recommends that investors maintain liquid emergency funds even after the Fed's interest rate reduction.

An advisor recommends that investors maintain liquid emergency funds even after the Fed's interest rate reduction.

Investing
Despite the subpar fall housing market, an economist asserts that it's the best we can expect.

Despite the subpar fall housing market, an economist asserts that it's the best we can expect.

Investing
While 49% of workers believe they can achieve their retirement objectives, 35% admit they will require more than $1 million to live comfortably in retirement.

While 49% of workers believe they can achieve their retirement objectives, 35% admit they will require more than $1 million to live comfortably in retirement.

Investing
Discover the Latin American e-commerce platform surpassing Amazon's performance this year.

Discover the Latin American e-commerce platform surpassing Amazon's performance this year.

Investing
If you can't pay your tax balance by the Oct. 15 deadline, here's what to do.

If you can't pay your tax balance by the Oct. 15 deadline, here's what to do.

Investing
Explore the interior of a $1.1 million 'zero emissions' dwelling.

Explore the interior of a $1.1 million 'zero emissions' dwelling.

Investing
Being child-free is becoming a more popular lifestyle choice among women. Here's how it affects your financial situation.

Being child-free is becoming a more popular lifestyle choice among women. Here's how it affects your financial situation.

Investing
A lender may deny a mortgage refinance request when interest rates are not favorable.

A lender may deny a mortgage refinance request when interest rates are not favorable.

Investing
According to a report, only 33% of millionaires consider themselves wealthy. Understanding the psychology behind feeling wealthy.

According to a report, only 33% of millionaires consider themselves wealthy. Understanding the psychology behind feeling wealthy.

Investing
Expert advises that rates will not decline rapidly after the Fed cut, and finding great returns on cash may still be possible.

Expert advises that rates will not decline rapidly after the Fed cut, and finding great returns on cash may still be possible.

Investing
Planning for one's estate can be challenging. Unexpected provisions in a will can make the process even more complex.

Planning for one's estate can be challenging. Unexpected provisions in a will can make the process even more complex.

Investing
Promising Stocks for the Long Haul, According to Top Wall Street Analysts

Promising Stocks for the Long Haul, According to Top Wall Street Analysts

Investing
How this 'Bachelor' star leveraged reality TV fame to build a small influencer fortune.

How this 'Bachelor' star leveraged reality TV fame to build a small influencer fortune.

Investing
One of the 'rare guarantees' in investing is accessible to 401(k) savers, according to a CFP.

One of the 'rare guarantees' in investing is accessible to 401(k) savers, according to a CFP.

Investing
No joke: Repairing appliances can cost up to $400

No joke: Repairing appliances can cost up to $400

Investing
Many individuals neglect to tackle their medical debt effectively, according to a study.

Many individuals neglect to tackle their medical debt effectively, according to a study.

Investing
The House may compel a vote on legislation to repeal rules that diminish pensioners' Social Security benefits.

The House may compel a vote on legislation to repeal rules that diminish pensioners' Social Security benefits.

Investing

You might also like