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A pedestrian holding an umbrella walks past a Charles Schwab office in New York City.
Scott Eells | Bloomberg | Getty Images
Shares skyrocket on Monday, but some clients of online brokers Charles Schwab, TD Ameritrade, Vanguard and others could miss market records.
E-brokers face technical issues with their trading systems as the Dow Jones Industrial Average and S&P 500 hit all-time highs amid optimism around a Covid-19 vaccine. Until now, it was unclear how many of the brokers’ clients were unable to gain timely access and complete transactions.
“Due to a technical issue, customers may have difficulty connecting to the http://schwab.com website and mobile apps. We are working to resolve this issue as quickly as possible. may be longer than usual, “Trading and Derivatives President Randy Frederick tweeted shortly after the opening bell.
U.S. stocks are skyrocketing after pharmaceutical giant Pfizer and German biotech company BioNTech announced that their Covid-19 vaccine was over 90% effective in preventing Covid-19 during trials. The Dow Jones Industrial Average traded over 1,300 points, or 4.7%, and hit a record high. The S&P 500 also hit a record, gaining more than 3.5%.
“There are connection issues with our apps. Until this is resolved, please use a browser and login to https://invest.ameritrade.com or use our TOS desktop platform. appreciate your patience, ”TD Ameritrade tweeted from his company Twitter account.
Vanguard tweeted that some customers were having difficulty accessing their accounts. Fidelity said it “is experiencing high volumes this morning which has impacted processing speeds.”
Robinhood’s status remained “operational” according to the company’s website. However, some Robinhood customers tweeted about issues with the app on Monday.
Retail investors from Robinhood, Fidelity and Schwab have been excluded from major market days on several occasions this year. In March, during record market volatility, stock trading sites and apps experienced day-long outages. Customers are taking to Twitter on Monday to express frustration with the outages.
Interactive Brokers did not seem to have any technical issues.
CNBC did not immediately receive a response from online brokers to which it sought comment.
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