Robinhood Halts 24 Hour Trading!

Key Points:

• Robinhood halts its 24-hour trading service due to market volatility and stability concerns.
• Significant losses include Google -11%, Amazon -10%, Microsoft -9%, NVIDIA -11%, Apple -10%, Meta -10%, Tesla -10%.

Robinhood halted its 24-hour trading service as the Market’s high volatility saw steep falls for major tech stocks.

The trading platform, notable for its free trading and somewhat user-friendly environment, said that the primary reason for Robinhood halt was the need to reevaluate and ensure steadiness in its trading environment.

Read more: Japan’s Nikkei Drop 14%: Worst One-Day Plunge Since 1987!

Major Tech Stocks Experience Significant Declines

It was a bolt from the blue for retail investors used to the long hours offered by Robinhood. This comes after recent massive losses in the stock market, where the majority of the large technology stocks have lost most of their prices, including:

• Google (GOOGL): -11%
• Amazon (AMZN): -10%
• Microsoft (MSFT): -9%
• NVIDIA (NVDA): -11%
• Apple (AAPL): -10%
• Meta (META): -10%
• Tesla (TSLA): -10%

These sharp declines align with a broader market trend spurred by fears of rising interest rates, inflation, and slowing economies. Concerns about the wider economic environment are increasingly making investors edgy. Large sell-offs in high-growth tech stocks have been market leaders over recent years.

Robinhood, meanwhile, has drawn mixed reactions from its decision to pause 24-hour trading.