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Betterment and Wealthfront crash during market bloodbath





Robots

  • Two of the largest roboadvisers crashed on Monday during a marketwide bloodbath.
  • Roboadvisers came into existence just after the financial crisis, and haven’t seen a major market correction.

Two of the largest roboadvisers crashed on Monday as US stock markets witnessed their largest decline in over six years.

Users of Betterment, which manages more than $10 billion, couldn’t log in Monday afternoon when the market started dropping sharply. Wealthfront users faced similar issues, according to a Bloomberg News report. The Dow Jones Industrial Average shed more than 1,000 points and the VIX, a gauge of market anxiety, more than doubled read more >>>

Source:: BusinessInsider.Com

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