Global tech outage affects airlines and financial services due to software update by CrowdStrike

From Nasdaq: 2024-07-19 11:29:03

A global tech outage caused chaos in industries like travel and finance, highlighting the risks of digital reliance. A software update by cybersecurity firm CrowdStrike triggered system issues affecting airlines, banks, and healthcare services. Major U.S. airlines grounded flights, while disruptions were reported worldwide. Microsoft later confirmed the issue was fixed.

Restoration of services began as companies like American Airlines and Dubai International Airport reported normalcy. Industry experts warned of potential impacts, calling the outage the biggest IT disaster. CrowdStrike, worth $83 billion, saw shares drop 14.5% while competitors like SentinelOne rose. Concerns remain over cybersecurity protocols and sector vulnerabilities.



Read more at Nasdaq: Airlines and Financial Services Hit Hard by CrowdStrike Outage