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The S&P 500 index has long been a stand-in for "the stock market" among investors. But with the Magnificent Seven tech stocks playing such an outsize role, more people are talking about -- and putting money behind -- an alternative version.
Global IT failures spread to Wall Street, with employees of institutions such as JPMorgan unable to log in to the system.
From Hong Kong, Dubai to South Africa, London, bankers in many places were affected by global IT failures, with some unable to log in to computer systems and others unable to trade. Employees of banks such as JPMorgan, Nomura, and Bank of America were unable to log in to the company's system on Friday, and many people's interfaces turned into blue error screens. At Haitong Securities, one trading desk was shut down for about three hours. The Norwegian central bank said it would have to conduct liquidity tenders by email and phone due to problems with its network system. This interruption is associated with CrowdStrike Holdings Inc., a widely used network.