Pedestrians walk by a sign posted outside of a Charles Schwab office in San Francisco on April 17, 2023.
Justin Sullivan | Getty Images
Brokerage firms including Charles Schwab reported temporary technical issues on Monday in the middle of a steep sell-off for global equities.
“Due to a technical issue, some clients may have difficulty logging in to Schwab platforms,” the firm said in a post on its X social media account. “Please accept our apologies as our teams work to resolve the issue as quickly as possible. Hold times may be longer than usual.”
Some users were reporting on social media about issues getting into their accounts. The firm said in a post at 12:38 p.m. ET that the issue had been resolved.
The Dow Jones Industrial Average was closed down 1,034 points, or 2.6%, after being down more than 1,200 points at its low of the session. Shares of Schwab fell 1.7% on the day, less than the broader market.
Schwab was not the only brokerage firm with social media complaints on Monday. The X account for Fidelity Investments responded to some of those complaints, saying that issues logging in to its platform have been resolved.
Elsewhere, Steve Sanders, EVP of marketing and product development at Interactive Brokers, said in a statement that the firm knew of no wide outages on its platform. Vanguard said in a statement that it had temporary issues for some clients on Monday morning that have since been resolved.
The website Downdetector.com showed reported issues at other brokerage firms as well on Monday morning, though the complaints appeared to have mostly gone away by early afternoon. CNBC reached out to other companies to see if they were having issues.
