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Robinhood crippled by another major outage as markets absorb historic sell-off

RobinhoodRobinhood, the popular commission-free stock-trading app, experienced another major outage Monday morning. The company said in a status update that trading was down for equities, options, and cryptocurrencies. The outage came amid a major market sell-off as investors continue to panic about the coronavirus outbreak. It's the second major outage this month for the app.…
Robinhood crippled by another major outage as markets absorb historic sell-off

robinhoodRobinhood

  • Robinhood, the popular commission-free stock-trading app, experienced another major outage Monday morning.
  • The company said in a status update that trading was down for equities, options, and cryptocurrencies.
  • The outage came amid a major market sell-off as investors continue to panic about the coronavirus outbreak.
  • It’s the second major outage this month for the app.
  • Read more on Business Insider.

Robinhood, the commission-free stock-trading app popular with young investors, experienced another major outage on Monday amid market turmoil.

The platform announced on Monday at 9:51 a.m. in New York that it was experiencing an issue with equities, options, and crypto trading. It said it was investigating and working to resolve the issue as soon as possible.

At 10:30 a.m., the company said that the issue had been identified and that a fix was being implemented.

“Trading has been partially restored on Robinhood and our team is working to get our platform fully back up and running,” the company tweeted.

Read more: ‘Much worse than 2008’: An expert who foresaw the dot-com crash warns the stock market’s recent turmoil has kicked off another full-blown financial crisis

It’s the second outage this month for the trading platform. In early March, Robinhood faced outages and degraded performance for two days in a row, sparking outrage from investors who were unable to trade on one of the market’s biggest rallies so far this year.

On Monday, US stocks plunged more than 7% at the start of trading, triggering a trading halt that lasted 15 minutes. The market resumed trading at 9:49 a.m. and continued to fall.

This is a developing story. Please check back for updates.

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