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Robinhood suffers new outage amid market rout

Robinhood suffered its second major outage in a week, as the mobile stock trading app stopped working Monday amid a historic market selloff where the S&P 500 dropped 7% points early Monday triggering a circuit breaker at the NYSE.

Robinhood alerted customers of an outage Monday morning at 9:51 a.m. EDT, before partially restoring service by about 10:30 EDT.

Early last week, Robinhood experienced outages over two days amid wild swings in the market, which were largely related to the coronavirus outbreak, which led to numerous disruptions in corporate supply trains, international and domestic air travel reductions and companies ordering employees to work from home.

Robinhood founders Baiju Bhatt and Vladimir Tenev, apologized for the outages last week, saying they were largely due to massive load increases on the platform infrastructure. They warned however that additional outages were possible. 

Robinhood, backed by investors including DST, Index Ventures, Sequoia and others, provides a range of stock trading, crypto and cash management accounts for customers.   

Cover image: iStock