Microsoft outage forces traders back to phones, fax machines

A major Microsoft service outage disrupted Outlook, Teams and Copilot, causing communication bottlenecks across global financial markets. With email and messaging services down, traders and execution desks at UBS Group, CMC Markets and BNP Paribas Asset Management relied on phone calls, Whatsapp and fax machines to execute trades and confirm deals. Some Indian brokerages also issued alerts.