IT Outage Sparks “Blue Screen Of Death” Worldwide
“Feeling Like It’s Y2K”
Update (1023ET):
(Tyler Durden Reports) – With the US cash market underway, shares of CrowdStrike are down about 10%, while Microsoft lost about half a percent. CrowdStrike confirmed earlier its Falcon Sensor threat-monitoring product sparked worldwide chaos and crashed Microsoft’s Windows operating systems.
CrowdStrike
Microsoft
“Friday’s global tech outage is an example of an unforeseen event that market participants always fear, but don’t frequently think about,” said Glen Smith, chief investment officer at GDS Wealth Management, who Bloomberg quoted.
Smith said, “While there are sizable declines in the stocks of the individual companies that are closest to this tech outage, we expect the broader markets to look past Friday’s outage.”
Earlier, CrowdStrike CEO George Kurtz posted on X that the company is “actively working with customers impacted by a defect found in a single content update for Windows hosts. Mac and Linux hosts are not impacted.”
The company stated the problem has been “identified, isolated, and a fix has been deployed.”
Here are areas often affected by IT outages:
1. Financial Services ( Bank )
2. Healthcare
3. Telecommunications
4. Government Services
5. Retail and E-commerce
6. Transportation and Logistics ( Airport )
7. Manufacturing
8. Education
9. Energy and Utilities
10. Media and…— Biz Insights HQ (@BizInsightsHQ) July 19, 2024
For some, the worldwide IT outage seemed a little “like Y2K, except it actually happened this time.”
This is what they told us Y2K was going to be like. #crowdstrike pic.twitter.com/1pNaXzOLle
— Grifter (@Grifter801) July 19, 2024
McDonald’s and United Airlines Holding were some mega-corps affected by the outage.
“The severity of the problem boils down to how long it lasts,” said Dan Coatsworth, investment analyst at AJ Bell, adding, “A few hours’ disruption is unhelpful but not a catastrophe. Prolonged disruption is another matter, potentially causing damage to companies and economies.”
For US travelers, the IT outage sparked widespread flight delays and even cancellations at major airports across the Lower 48.
Flight tracking website FlightAware reports nearly 1,500 flights have been delayed, with 385 canceled flights.
“The FAA is closely monitoring a technical issue impacting IT systems at US airlines,” the federal agency wrote in a statement, adding, “Several airlines have requested FAA assistance with ground stops for their fleets until the issue is resolved.”
***
8:12am The crowd continues to grow. Southwest Airlines is not impacted by this outage here at the BWI Airport. Airport staff is now starting to bring out water and cookies for travelers who have been camped out here since last night. @wjz pic.twitter.com/y6sMRAqbiv
— Alexus Davila (@AlexusVDavila) July 19, 2024
CONTINUE READING MORE COVERAGE AT ORG POST
Header featured image (edited) credit: Airplane/X account Financial Times
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My IT guy said it’s imperative that everyone get paper bank statements just in case something like this makes your balance go to zero. Also, it might not be a bad idea to take screenshots of your statements in tandem. It’s your money, keep it.