tl;dr
Bank of America (BoA) experienced a widespread technical glitch on Oct. 2, affecting thousands of online banking customers. Issues reported included customers unable to access their accounts, online accounts showing zero balances, and problems with online banking, mobile apps, and some ATMs. More th...
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Bank of America (BoA) experienced a widespread technical glitch on Oct. 2, affecting thousands of online banking customers. Issues reported included customers unable to access their accounts, online accounts showing zero balances, and problems with online banking, mobile apps, and some ATMs.
More than 18,000 outages were reported, according to the Downdetector website. Bank of America apologized for the inconvenience and stated that the issues had largely been resolved.
Other banks, including Wells Fargo, HSBC, Capital One, TSB Bank, and the Commonwealth Bank of Australia, have also experienced system outages in recent years.
WHERE IS MY MONEY? Angry customers flocked to social media to complain about and ask why their Bank of America accounts had been zeroed. "Bank of America where’s all my money? An explanation would be nice,” one customer said. “Not cool to leave people hanging and feeling insecure about their money,” wrote another user, with another stating: "My money is gone but conveniently my debt is still there. Bank of America sucks."
In a written statement, a spokesman for the bank said: "Some clients are experiencing an issue accessing their accounts and balance information today. These issues are being addressed and have largely been resolved. We apologize for any inconvenience."
BofA’s help page was inundated with complaints and robotic responses from customer support. Entrepreneur and angel investor Daniel Stakleff said Bitcoin solves this, advising victims to take control of their own money. (https://twitter.com/DanielStakleff/status/1841542876809011615)
BANK OUTAGES COMMON A system outage caused by a power shutdown at a Wells Fargo facility led to customers being unable to access online banking, mobile apps, and ATMs for several days in 2019. Cyber attacks and IT failures have also impacted the systems and customers of HSBC, Capital One, TSB Bank, and the Commonwealth Bank of Australia over the past few years.
Meanwhile, the Bitcoin network hasn’t suffered an outage since 2013 and has 99.98% uptime, according to Bitbo. However, the same cannot be said for other blockchains, such as Solana.
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More about General Dynamics Corporation
General Dynamics Corporation Summary General Dynamics Corporation
General Dynamics Corporation (GD) is an American aerospace and defense corporation. It is headquartered in Reston, Fairfax County, Virginia.
Industry
Manufacturing, Ship & Boat Building & Repairing
Key Financial Data
Market Cap: $83.51B
Current Price: $23.69
P/E Ratio: 5.48
EPS: 12.83
52-Week High: $164.48
Dividend Yield: 7.89%
Revenue: $44.95B
Net Income: $323.31
ROE: 20.7%
Debt-to-Equity: 0.18
More about
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After conducting a thorough technical analysis, it is evident that the stock has approached a crucial resistance level, indicating a potential reversal in the current uptrend.
The Moving Average Convergence Divergence (MACD) indicator further supports this view, showing signs of a bearish crossover.
Additionally, the Relative Strength Index (RSI) has entered overbought territory, suggesting a possible weakening of buying momentum.
Considering these factors, investors should closely monitor the support level at $X, as a breach could signal a significant downturn.
It is important to approach the current situation with caution and consider implementing risk management strategies to mitigate potential losses.
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