Banking
A widespread outage at Amazon Web Services on Monday reverberated through the global economy, offering a stark reminder of the financial industry’s deep dependence on a handful of tech giants. The disruption, primarily centered on AWS’s massive US-EAST-1 region in northern Virginia, caused connectivity issues and elevated error rates for thousands of companies worldwide, immediately disrupting financial services on trading platforms and consumer banking apps, among others.The incident, attributed by AWS engineers to an issue within the EC2 internal network and later tied to a Domain Name System failure, quickly became a global systemic risk test for finance. Cryptocurrency exchange…
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.Federal Reserve officials completed a two-day meeting on September 18 and announced a federal funds rate decrease of 50 basis points.[0] This is the first decrease in more than four years. The target range is now between 4.75% and 5.00%. Previously, the target was 5.25% to 5.50%. With the recent announcement, savers are likely to see slight dips in savings rates.Will high-yield savings…
Our Nerds say:“When choosing a savings account, a high rate isn’t the only thing you’ll want to consider. You’ll want to see whether there are any monthly fees or withdrawal limits. “It’s also important to pick an account that meets your overall banking needs. If you want your checking and savings accounts to be at the same bank, for example, you’ll want to go with an institution that offers both checking and high-yield savings.”- Margarette Burnette, NerdWallet banking writerBest high-yield savings accounts: full list of editorial picksWhen selecting the best high-yield savings accounts, NerdWallet uses multiple data points, including monthly…