Bloomberg blamed a “combination of hardware and software failures” for a two-hour outage that affected users of its popular data and messaging terminals.

The problems, which began at 8:20 am (3:20 a.m. EDT) Friday, prevented thousands of traders and investors from carrying out trading activity. The company said it identified the cause of the outage as related to an unspecified hardware fault, but that systems are “fully restored,” a Bloomberg spokesperson said.

“We experienced a combination of hardware and software failures in the network, which caused an excessive volume of network traffic,” the spokesperson said in an email statement. “This led to customer disconnections as a result of the machines being overwhelmed. We discovered the root cause quickly, isolated the faulty hardware, and restarted the software.”

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