markets

Retail traders scrambled to check portfolios on Monday. The internet could barely handle it.

Online trading platforms including Charles Schwab, Vanguard and Fidelity experienced disruptions Monday morning, leaving frustrated retail investors nowhere to go on a day of frantic market sell-off.

Users turned to Reddit and X to report that they weren’t able to log into their accounts. As a result, consumers lost access to the market “at the most crucial times,” one Reddit user said.

At around 12:30 p.m. EDT, Charles Schwab said on X that a “ technical issue experienced by some clients has been resolved.” Vanguard first acknowledged the issue and that it was “working diligently to restore functionality” in a post on X, which was later taken down.

At its peak, Charles Schwab was down for 15,462 users, according to online tracking website Downdetector.com. The Securities and Exchange Commission told Reuters that they were tracking the developments.

Disclosure: Sherwood Media is a independent subsidiary of Robinhood Markets, Inc., which competes with some of the trading platforms listed here.

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Here’s one noteworthy feature of the recent market downturn that has the S&P 500 poised for its worst week since reciprocal tariffs were announced in early April: retail traders seemingly aren’t eager to buy the weakness in single stocks the way they used to be.

JPMorgan strategist Arun Jain has flagged that retail traders instead appear to be “skipping the dip.”

“In contrast to the behavior observed during the post-Liberation Day selloff, retail investors did not seize the opportunity to buy-the-dip on Tuesday, with a few exceptions such as META,” he wrote of the day where the benchmark US stock index fell 1.2%. “In fact, they scaled back their ETF purchases and turned net sellers in single stocks.”

Then on Thursday, when the S&P 500 fell 1.1%, Jain projected that retail traders sold $261 million in single stocks. Through noon ET on Friday, his daily outflow estimate stands at $851 million.

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The move marks at least the third major equity raise, and dilution, for Archer this year. The company raised $300 million from a new stock sale in February, and sold $850 million worth of shares in June.

On Archer’s earnings call Thursday, interim CFO Priya Gupta said the company came to the decision after “substantial inbound interest.” According to Gupta, the company has heard from government and commercial partners that liquidity is a “key driver to their decisions of who to partner with.” With its latest share sale, Archer said its total liquidity is more than $2 billion.

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On Archer’s earnings call Thursday, interim CFO Priya Gupta said the company came to the decision after “substantial inbound interest.” According to Gupta, the company has heard from government and commercial partners that liquidity is a “key driver to their decisions of who to partner with.” With its latest share sale, Archer said its total liquidity is more than $2 billion.

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