Schwab and other brokerages that had outages during Monday's selloff are operating normally on Tuesday

By Weston Blasi

Many brokerages confirmed they had outages on Monday, but say things are back to normal

Outages that plagued some online brokerages during Monday's market selloff are no longer occurring, according to data from Downdetector.com, a website that tracks online service issues.

People with investment accounts at several brokerages, including Charles Schwab (SCHW), Fidelity, Vanguard, Interactive Brokers (IBKR) and E-Trade (MS), took to social media to complain that during Monday's stock market volatility they were not able to access their accounts.

See also: 'Warren Buffett stayed calm and clearheaded amid chaos': Here's my biggest lesson from the Great Recession

Schwab's official account on X, the former Twitter, admitted that a technical issue was contributing to customers not being able to log in. Schwab's X account also responded to hundreds of customers who reported issues during Monday morning trading.

See: Mortgage rates plunge to lowest level in over a year amid recession fears. Is now a good time to buy a house?

"A technical issue experienced by some clients has been resolved. We apologize for the inconvenience," the company told MarketWatch on Monday afternoon.

It was a similar story at Fidelity, as some of its workplace retirement-plan and brokerage customers also reported login issues.

As Fidelity's X account told customers during Monday's outage: "We are aware some customers may have experienced issues logging in to Fidelity platforms earlier today. This is now resolved."

Interactive Brokers disputed that their company had any disruptions in a Monday Statement. "We know of no wide outages. As of 11 a.m. EST we have 5 million trades, Friday we had 5.9 million all day, which was already a busy day," the company told MarketWatch.

A Vanguard spokesperson told MarketWatch it was aware that clients had "temporarily experienced difficulties access accounts" on Monday, but the issue has since been "resolved."

E-Trade didn't release any statements on the reported outages or respond to MarketWatch's questions. Fidelity declined to comment.

This is the second time in the past several weeks that some brokerages have had technical problems. In July, some investors with accounts at Schwab, E-Trade and Merrill Edge reported login and trading issues during the CrowdStrike outage that impacted around 8.5 million devices.

Read on: Americans' credit-card debt just hit another record high. Is it a further recession warning sign?

-Weston Blasi

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

08-06-24 1204ET

Copyright (c) 2024 Dow Jones & Company, Inc.