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Microsoft glitch causes problems at London Stock Exchange and banks worldwide
THE “Blue Screen of Death,” a term used to describe a major Microsoft malfunction, caused widespread operational problems affecting the London Stock Exchange (LSE)banks, airlines and airports during peak tourist season.
The problems started at 5:30 GMT with an alert of Crowd strike The company sent a message to its customers, warning them that the company's “Falcon Sensor” software was causing Microsoft Windows to crash and display the infamous “blue screen of death.” The alert included a manual fix for the problem, according to Reuters.
THE LSE website The RNS news service has issued a warning that it is experiencing a global technical issue linked to a third party that is preventing the publication of news. “Technical teams are working to restore the service, without impacting the trading of securities or other services on the London Stock Exchange.” Meanwhile, Bolsas y Mercados Españols (BME), the operator of the Spanish financial markets, and regulator CNMV have confirmed that they are not affected by the Microsoft issue, as reported by Economa Digital.
According to EFEFault detectora website outage monitoring service, has noted sudden spikes in incidents affecting various banking sites using Microsoft applications since yesterday evening. Banks such as Santander Spain, Kutxabank, Unicaja and Ibercaja are experiencing problems, according to capital.es.
Challenges of the travel industry
The travel sector is one of the most affected, with airports around the world facing operational disruptions. Major US airlines, including Delta, United and American Airlines, have suspended all flights due to the Microsoft outage, as reported by EFE. The US Federal Aviation Administration (FAA) has confirmed the incident, which affects all domestic flights, regardless of destination. Airports in Tokyo, Amsterdam, Berlin and several in Spain have also reported system problems and delays.
The Paris Olympics organizing committee announced on Friday that its IT operations had been impacted by a global outage just a week before the event was due to begin. “We have activated contingency plans to continue our operations,” the committee said, according to Reuters.
Stock Market Reactions
Companies facing technical problems saw their stock prices fall. In Spain, financial sector stocks fell by between 1.19% for Santander and 0.3% for Unicaja. In Europe, Societe Generale and BNP Paribas fell by 1.3%, while Deutsche Bank in Germany fell by 2%.
Affected by the disruption to the LSE, Deutsche Boerse, the operator of the Frankfurt Stock Exchange, recorded a drop of 0.95%, and Euronext, which owns the Paris and Milan stock exchanges among others, fell by 1.25%.
Technology stocks also had a tough day. Shares of CrowdStrike fell 9% in early trading on Wall Street, while Microsoft was roughly flat from its closing price the previous day.
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