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Yiwen Lu

Retail traders scrambled to check portfolios on Monday. The internet could barely handle it.

Online trading platforms including Charles Schwab, Vanguard and Fidelity experienced disruptions Monday morning, leaving frustrated retail investors nowhere to go on a day of frantic market sell-off.

Users turned to Reddit and X to report that they weren’t able to log into their accounts. As a result, consumers lost access to the market “at the most crucial times,” one Reddit user said

At around 12:30 p.m. EDT, Charles Schwab said on X that a “ technical issue experienced by some clients has been resolved.” Vanguard first acknowledged the issue and that it was “working diligently to restore functionality” in a post on X, which was later taken down.

At its peak, Charles Schwab was down for 15,462 users, according to online tracking website Downdetector.com. The Securities and Exchange Commission told Reuters that they were tracking the developments.

Disclosure: Sherwood Media is a independent subsidiary of Robinhood Markets, Inc., which competes with some of the trading platforms listed here.

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IREN drops on convertible debt offering

Shares of crypto miner and AI compute provider IREN dropped after the Australia-based, US-listed company said late Tuesday that it would sell $875 million in convertible senior debt.

The announcement came late in the trading day and caused a sell-off in the aftermarket session that continued into Wednesday trading.

The offering makes sense; the company can probably get some fairly cheap capital after its shares doubled over the last month.

But it exposes shareholders to some dilution risk if buyers of the hybrid securities do convert them into equity, which explains the market reaction.

The offering makes sense; the company can probably get some fairly cheap capital after its shares doubled over the last month.

But it exposes shareholders to some dilution risk if buyers of the hybrid securities do convert them into equity, which explains the market reaction.

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Tempus AI shares surge to all-time high

Shares of Tempus AI jumped over 7% Wednesday to reach an all-time high of $99.90. Shares of the AI medical diagnostics company are up over 191% for the year so far.

The company has recently announced a flurry of FDA clearances for its technologies. Most recently, on September 22, Tempus AI was granted FDA clearance for its Tempus xR IVD device, which is used to tailor cancer therapies.

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