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Panic selling causes log in issues in investing websites
As panic ensued when the Dow crashed to 1,000 points Monday right after the opening bell, some investors complained on Twitter that they weren't able to log into their online stock accounts.
The massive trading caused by the market rout slowed down stock websites such as TD Ameritrade, Vanguard, and Scottrade. These websites reported issues in their during the stock market chaos Monday. Meanwhile, its users took on twitter to complain about not being able to get into their accounts. Some of the TD Ameritrade investors weren't able to log into their account but were given another route to get in.
TD Ameritrade director Kim Hillyer confirmed that their website encountered problems during the market commotion. There were log in problems, but users were still able to trade. Besides their websites, their mobile apps were also affected but have already been resolved.
Besides TD Ameritrade, Scottrade also encountered problems in its website Monday morning. The company said, "With the active market open, we initially saw some slowness, but quickly returned to normal functionality."
Mutual fund site Vanguard was slow Monday morning due to the market turmoil. The company said, "We experienced a brief period of sporadic website inaccessibility at the start of the trading day. We've added capacity to manage the volume." Customers who weren't able to log in their account were still able to trade via phone.
On August 2, stocks were rolling all over again. On Monday, the Dow was down 1,000 points, S&P 500 at 120 points, and Nasdaq was at a low 393 points just a few moments after the market opened. The major averages were at a low 5%, which is at their worst levels.
The market was recovering its losses in the market when it started plummeting down more than 650 points again by 3pm ET. The S&P 500 also dropped 84 points and the Nasdaq at 187 points. The averages were off more than 3 percent.