Apple

Amid reports suggesting that Robinhood halted its 24-hour trading, the company has declared that the service is currently intact.
“Our overnight trading session is currently operating,” a spokesperson for Robinhood told Cointelegraph when asked to confirm or deny the 24-hour trading service halt.
The spokesperson did not answer further questions about whether Robinhood experienced any platform issues amid market volatility and other details.
<a href="https://www.financemagnates.com/forex/night-owls-take-over-robinhood-10b-in-volume-traded-after-hours/" target="_blank" rel="noopener nofollow">Introduced</a> in May 2023, the Robinhood 24-hour market service allows customers to invest on their own schedule. The platform is available from Sunday 12:00 am UTC to Friday 12:00 am UTC.
<h2 id="multiple-robinhood-users-reported-trading-suspension">Multiple Robinhood users reported trading suspension</h2>
On Aug. 5, multiple users on X claimed that Robinhood suspended 24-hour stock trading on its platform amid massive volatility across most equity markets and alternative assets.
“Robinhood has suspended 24-hour stock trading on its platform due to elevated volatility,” wrote Jesse Cohen, a global markets analyst at Investing.com.
“Feels like March 2020/Sept. 2008,” Cohen added, referring to the stock market crash in 2020 and the financial crisis of 2008.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/1707d626-1adb-4147-9a2f-9d85af4cf403.png" alt="Robinhood says its 24-hour trading ‘currently operating’">
 <figcaption style="text-align: center;">
 Source: <a href="https://x.com/JesseCohenInv/status/1820368816209105032" target="_blank" rel="noopener nofollow">Jesse Cohen</a>
 </figcaption>
</figure>
Other social media reports also suggested that Robinhood halted 24-hour trading due to huge market volatility.
“They have suspended all 24-hour trades until further notice,” Rawsalerts <a href="https://x.com/rawsalerts/status/1820354459609776186" target="_blank" rel="noopener nofollow">posted</a> on X at 7:00 am UTC.
According to another post by Rawsalerts, Robinhood is just one of many brokerages that have faced issues due to the massive market volatility. Other firms reportedly facing outages due to the market turbulence include Charles Schwab, Fidelity, Vanguard, TD Ameritrade, E-Trade, UPS, CenturyLink and others.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/a8600d9c-633a-44ab-bc1b-1025808e20fa.png" alt="Robinhood says its 24-hour trading ‘currently operating’">
 <figcaption style="text-align: center;">
 Source:&nbsp;<a href="https://x.com/rawsalerts/status/1820461876620280103" target="_blank" rel="noopener nofollow">Rawsalerts</a>
 </figcaption>
</figure>
“While centralized platforms retain the power to halt trading on a whim, they can’t prevent crypto traders from accessing onchain markets, which have continued to operate as intended during the market crash,” Ran Yi, co-founder of Orderly Network, told Cointelegraph. He added:
<blockquote data-ct-non-breakable="true">
 “True crypto doesn’t have an on-off switch: It’s designed to operate around the clock through calm and chaos alike.”
</blockquote>
<h2 data-ct-non-breakable="true" id="japan-s-nikkei-sees-the-biggest-drop-since-1987-black-monday">Japan’s Nikkei sees the biggest drop since 1987 Black Monday</h2>
The alleged trading halt on Robinhood came amid carnage in the global stock market, with Japan’s Nikkei seeing its most significant decline since Black Monday.
The Nikkei share average <a href="https://www.reuters.com/markets/asia/japans-nikkei-sees-biggest-rout-since-1987-black-monday-2024-08-05/" target="_blank" rel="noopener nofollow">shed</a> a staggering 12.4% amid recession fears on Aug. 5. It was the Nikkei’s worst performance in percentage terms since Black Monday, the worst stock market crash in global financial history, which took place on Oct. 19, 1987.
United States stocks also fell sharply on Monday as part of a global market sell-off centered around US recession fears, with Nvidia and Apple <a href="https://www.tradingview.com/symbols/NASDAQ-NVDA/" target="_blank" rel="noopener nofollow">tumbling</a> 9%.
Related: <a href="https://cointelegraph.com/news/crypto-528-million-lost-recession-coinshares">Crypto products shed $528M amid recession fears — CoinShares</a>
<a href="https://x.com/rawsalerts/status/1820456778380837353" target="_blank" rel="noopener nofollow">According</a> to Fox Business, over $1.93 trillion was wiped out from the US stock market on Monday as the Nasdaq dropped over 1,000 points. The Dow Jones Industrial Average, which had been outperforming, <a href="https://www.tradingview.com/symbols/TVC-DJI/" target="_blank" rel="noopener nofollow">fell</a> 2%.
The latest stock market crash came in response to poor jobs figures in the US last Friday, which triggered concerns over a potential economic recession and calls for an interest rate cut. <a href="https://www.reuters.com/markets/us/us-yields-slide-traders-bet-big-fed-rate-cuts-after-weak-data-2024-08-05/" target="_blank" rel="noopener nofollow">According</a> to some industry insiders, emergency rate cuts are coming soon despite the US Federal Reserve reportedly deciding against cutting interest rates last week.
Magazine: <a href="https://cointelegraph.com/magazine/5-ways-crypto-bots-are-ruining-crypto-including-auto-memecoin-rug-pulls/">How crypto bots are ruining crypto — including auto memecoin rug pulls</a>

Robinhood says its 24-hour trading ‘currently operating’

Table of Contents

Cointelegraph

Other articles published on Aug 5, 2024

Xapo Bank Opens Interest-bearing Bitcoin Accounts in the UK

Solana Price Crash: Can SOL Price Overcome The Crash And Reach Back New Highs?

What is Duko Memecoin?

Four Arrested in Kyiv for Alleged Kidnapping and Murder of Bitcoin Investor: Details

Why Crypto's Down Today: Reasons Shared by Seasoned Expert

BlackRock Sees Low Demand for Other Cryptos Other Than Bitcoin and Ethereum

Join our free newsletter for daily crypto updates!