Popular stock-trading app Robinhood went down Monday amid a stock market drop that fell so rapidly due to coronavirus fears and falling oil prices that trading was temporarily halted. A similar outage happened March 2, although for a much longer period of time.
The company said via Twitter it has "partially restored" services after trading was stopped Monday morning. The Robinhood status page showed an issue appeared at 6:51 a.m. PT and a fix was being worked on at 7:30 a.m.
Trading has been partially restored on Robinhood and our team is working to get our platform fully back up and running. We’ll update the status page with the latest: https://t.co/mON07oWvHy
— Robinhood Help (@AskRobinhood) March 9, 2020
Robinhood updated its status page at 10:25 a.m. PT, saying trading of new orders, with the exception of fractional equities, is functional. The app gave the all clear around 3:30 p.m. PT, saying Robinhood is "back up and running again" and that trading has been restored.
Trading on Robinhood has been functional for new orders with the exception of fractional equities since at least 10:25 AM ET. We’ll continue to update our status page with the latest https://t.co/mON07oWvHy.
— Robinhood Help (@AskRobinhood) March 9, 2020
A Robinhood spokesperson says the interruption was not related to last week's outage.
"Our platform is now fully operational and we're working hard to improve our service during these historic and volatile market conditions," the spokesperson said in an emailed statement Monday. "We know this interruption was frustrating for our customers – especially after last week and on a day that trading was halted market-wide."
Stocks plunged so badly Monday morning, it triggered a failsafe that halts trading for 15 minutes when there's a rapid decline of 7% of the S&P 500.
