Microsoft Outlook went dark on Rita Elkazzi just as a volatile week in markets was coming to an end. As swings in artificial intelligence stocks and bonds kept market participants on edge, the UBS Group AG execution-sales head for Australia and New Zealand was forced onto phones and alternative channels to communicate. Microsoft shares fell 0.4% in extended trading following the disruption, which affected access to several of the company's core services.
It has been a difficult situation for professionals relying on the technology, with many echoing Elkazzi's concerns after Microsoft Corp. suffered one of its most severe disruptions in recent memory. The tech giant struggled to restore access to flagship software hours after the outage began, affecting Outlook, Teams, and Copilot systems. The communication difficulties hindered workflows on trading desks, delayed corporate disclosures, and even impacted email access for Japan's Ministry of Finance.
In Singapore, traders reported that some banks were unable to complete financing deals, while a few Indian brokerages issued alerts about potential service impacts. IIFL Capital Services informed clients that response times for emailed queries might be delayed. Australia's main exchange operator, ASX Ltd., told customers it was aware of an issue affecting some Microsoft 365 services, though the bourse itself remained available for normal operations. Workhorse Group Inc., a US truck and bus manufacturer, announced it would postpone its earnings release due to the technical problems.
In Japan, the government's shared IT platform experienced disruptions, and the finance ministry reported an inability to receive emails. Calvin Yeoh, a portfolio manager at hedge fund Blue Edge Advisors, noted that he could not check emails and struggled to access brokerage reports and trading platforms that require email authentication. He described Outlook as a vital component of modern financial operations, noting the added difficulty during a turbulent week for rates and tech stocks.
At CMC Markets, traders resorted to traditional methods as systems went offline. Eugene Koh, a sales trader in Singapore, described a busy environment where WhatsApp chats and phone calls replaced instantaneous email exchanges. Similarly, Ryutaro Kimura, a senior bond strategist at BNP Paribas Asset Management in Tokyo, noted that while actual trading was largely unaffected, delayed confirmations created settlement headaches for back offices operating via phone and fax.
The widespread technical failure generated roughly 200,000 user reports of issues across Microsoft services on Downdetector, marking it as one of the company's most severe operational incidents. Following initial difficulties in identifying the problem and testing remedies, Microsoft stated that it was seeing positive results from its efforts to restart the affected infrastructure.
Portfolio managers like Matthew Haupt of Wilson Asset Management observed that equity trading volumes had dipped slightly due to the blackout. Meanwhile, Kenneth Goh, a private wealth management director at UOB Kay Hian travelling in Malaysia, found himself unable to access vital market updates to advise private clients. Describing the situation as exceptionally frustrating during a volatile trading week, Goh noted that relying on patchy phone calls to communicate with clients creates significant challenges if the outage persists.