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WSJ Tech News Briefing

TNB Tech Minute: Major Global IT Outage Touches Almost Every Industry

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.61.6K Ratings

🗓️ 19 July 2024

⏱️ 3 minutes

🧾️ Download transcript

Summary

Plus, the Nasdaq falls, as do shares of CrowdStrike, the cybersecurity company behind the outage. And New York’s financial regulator hires two new leaders for its crypto unit. Zoe Thomas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Why do over 50% of the Fortune 500 use elastic?

0:04.0

Because elastic has done the hard work of making it easier for companies to do generative AI right.

0:09.5

Elastic search AI helps them make insightful and impactful decisions at speed.

0:15.0

Across search, observability and security,

0:18.0

Elastic has the power to take your data into the future.

0:21.0

Explore the possibilities of AI with your data at explore.elastic.co,

0:26.0

elastic for search AI company.

0:28.0

Here's your TnB Tech Minute for Friday, July 19th. I'm Zoe Thomas for the Wall Street Journal.

0:38.4

A single update from Cybersecurity Software Maker Crowd Strike is causing massive outages for millions of users of Microsoft

0:46.3

Windows devices.

0:47.9

The outage swept the globe, touching almost every industry, including operations at banks, airlines, and emergency services.

0:56.1

Many affected machines were unable to restart, instead showing a blue error screen.

1:01.5

In a post on X, CrowdStrike CEO George Kurtz said that the issue had

1:06.0

been identified and a fix had been deployed. He added the outage was not a security

1:11.1

incident or cyber attack.

1:13.4

In a status update seen by the W.S.J.

1:15.7

The company told customers its engineers had undone a software change that caused the problem.

1:21.8

But clients would need to use a workaround to download a

1:24.8

fix to affected devices. While U.S. financial markets were largely operating as

1:30.7

normal today, stocks were impacted by the outage.

1:34.4

The NASDAQ fell nearly 1%.

1:37.0

Crowd strike tumbled close to 11%,

...

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