Fidelity, Schwab say some customers experienced technical problems in the middle of 800-point Dow plunge

Some Fidelity and Charles Schwab customers experienced problems accessing their accounts amid the 800- point drop in the markets Monday.

Both brokers informed CNBC about an hour after the open that the concerns had been fixed.

” Due to higher-than-usual volumes, some clients might have experienced hold-ups in accessing some online features as the marketplace opened but our systems are great and up and running,” Schwab Public Relations told CNBC. Schwab manages about $5.1 trillion in assets, consisting of those from its reported acquisition of TD Ameritrade.

” Some clients are experiencing technical concerns and we are working as quickly as possible to resolve,” Fidelity told CNBC shortly after the open. Privately held Fidelity, the largest online broker, manages about $7.8 trillion in customer possessions for almost 30 million clients.

TD Ameritrade likewise experienced “some sluggishness in the reporting of trade confirmations this morning related to heavy trade volumes at the open,” the broker told CNBC.

Fidelity clients required to Twitter to air their concerns about the technical issues. “ @Fidelity it would be great on a day like today if your site worked,” stated one Twitter user.

Many images on Twitter showed that Fidelity’s platform was telling its clients their account balance was $0.00 Schwab’s app was flashing a “temporarily unavailable” message, according to photos on Twitter.

The Dow Jones Industrial Average fell more than 800 points on Monday as the number of coronavirus cases outside China surged, raising worries of an extended international economic downturn from the spreading lethal infection. The Dow’s drop was the third-largest one-day decrease by the 30- stock index in the previous 3 years.

Shares of Schwab dipped 4.5%amidst the market sell-off.

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— With reporting from CNBC’s Jim Forkin

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