Yesterday, in a moment of humiliation for the entire alternative asset management industry, the websites of the largest US roboadvisors were down, blocking traders from accessing their trading accounts during the worst market rout in history.
Well, just hours later, the humiliation has spread to the pinnacle of the traditional asset management industry, because as of this moment the website of Fidelity has just gone offline, supposedly as a result of record traffic as investors scramble to find out just how big is the damage to their accounts from yesterday’s historic selloff.
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