Global Technology Outage Disrupts Financial Operations from London to New York

A global technology outage caused major disruptions across financial firms, from London to New York, impacting banking, trading, and even healthcare services. The outage affected systems at several institutions including JPMorgan Chase and the London Stock Exchange. Normal operations resumed by the start of U.S. business, though some residual issues remained.

Trading resumed to normal on Friday after a global technology outage disrupted operations at financial firms from London to Singapore and New York, leaving some residual issues such as outages at certain JPMorgan Chase ATMs.

The software glitch caused chaos in computer systems worldwide, affecting air travel, broadcasting, banking, and healthcare services. The disruption was felt across financial markets, impacting firms involved in various trading processes during Asian and early European trading hours.

By midday in London, most issues were resolved, although some smaller financial institutions reported trading difficulties. Despite this, the New York Stock Exchange and Nasdaq reported normal operations. Banking giants like Bank of America and Goldman Sachs claimed minimal impact. Regulatory scrutiny on IT providers is expected to increase due to the incident.

(With inputs from agencies.)