Microsoft, CrowdStrike IT outage hits global supply chain, with air freight facing days or weeks to recover
Publishing timestamp: 2024-07-19 15:52:41
Summary
CrowdStrike software bug caused global IT outage impacting air freight, ports, and rail networks. Major rails in the U.S. were mostly operating normally, with Union Pacific returning to full operations by Friday afternoon. Air freight was hit hardest, with many global airlines grounding flights. Ports from New York to Houston and Los Angeles reported temporary shutdowns but were mostly operational by early morning. The issue highlighted the vulnerability of global supply chains to IT failures. Buttigieg, U.S. Secretary of Transportation, mentioned potential ripple effects throughout the day. FedEx and UPS activated contingency plans, with potential delays in package deliveries. Most rails and ports were recovering after early disruptions. Ports like Houston and Los Angeles experienced system outages but were back up and running. Some terminals reported minimal impacts, while others faced delays. Not all ports were affected, with some reporting normal operations. The IT outage had the potential to cause significant disruptions at ports and throughout the supply chain.
Sentiment: MIXED
Tickers: CRWD, UNP, NSC, BRK.A, CSX, MSFT, BRK.B,
Keywords: norfolk southern corp, united states, los angeles, berkshire hathaway inc, breaking news: business, microsoft corp, transportation, business news, csx corp, union pacific corp, crowdstrike holdings inc, houston,
Source: https://www.cnbc.com/2024/07/19/crowdstrike-it-outage-spreads-global-supply-chain.html