Robinhood crippled by another major outage as markets absorb historic sell-off

• Robinhood, the popular commission-free stock-trading app, experienced another major outage Monday morning.
• Trading is down for equities, options, and cryptocurrency, the company said in a status update.
• The outage came amid a major market sell-off as investors continue to panic over the coronavirus outbreak.
• It's the second major outage this month for the app.
• Read more on Business Insider.

Robinhood, the commission-free stock-trading app popular with young investors, experienced another "major outage" on Monday amid market turmoil.

The platform issued an announcement on Monday at 9:51 a.m. in New York saying that it is experiencing an issue with equities, options, and crypto trading. The company said that it is investigating and working to resolve this issue as soon as possible.

At 10:30 a.m. ET the company said that the issue has been identified and a fix is being implemented.

"Trading has been partially restored on Robinhood and our team is working to get our platform fully back up and running," the company tweeted.

Read more: 'Much worse than 2008': An expert who foresaw the dot-com crash warns the stock market's recent turmoil has kicked off another full-blown financial crisis

It's the second outage this month for the trading platform. In early March, Robinhood faced outages and degraded performance for two days in a row. That sparked outrage from investors who were unable to trade on one of the market's biggest rallies so far this year.

On Monday, US stocks plunged more than 7% at the start of trading, triggering a trading halt that lasted 15 minutes. The market resumed trading at 9:49 a.m. ET and continued to fall.

This is a developing story. Please check back for updates.