The Charles Schwab website is again accessible to users.
The site was inaccessible for many users for at least the first full 90 minutes of Monday’s trading day amid a spike in market volatility.
As of 11:00 am New York time, the Schwab.com homepage stated: “Due to a technical issue, some clients may have difficulty logging in to Schwab platforms and may have difficulty reaching us by phone. Please accept our apologies as our teams work to resolve the issue as quickly as possible.”
Login attempts timed out and generated a message: “We’re unable to authorize your access. Try again or call customer support.” Wait times for Schwab chat support were more than 60 minutes.
Benchmark U.S. stock indices were down about 3%, and the Cboe Volatility Index (VIX) spiked to as high as 65, almost triple Friday’s closing level.
Charles Schwab is the largest retail brokerage firm in the U.S., with $9.41 trillion under management and 36.5 million active brokerage accounts as of July 2024, according to Investopedia.
Schwab didn’t immediately respond to Traders Magazine’s email request for comment.
