Japanese credit unions hit by outage amid AI stock sell-off

Customers of 128 Japanese credit unions were left unable to withdraw cash today after one of Japan’s banking systems suffered an outage amid cascading price drops across the country’s stock market. Local media reports that the Shinkin Joint Center outage rendered ATM machines across the Tokai region unable to process withdrawals, deposits, or over-the-counter transactions. According to reports, the cause of the outage wasn’t the result of a cyberattack, but rather an “equipment malfunction.” Initial reports suggested that it would be difficult to restore services today but various banks managed to do this by 7pm Japanese Standard Time. Outage happened as Japan’s stock market slumped 7% The outage took place as Japan’s Nikkei 225 stock index fell by 7% amid a wider AI stock selloff that cost Wall Street $3.2…

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