Cloudflare stock closed the Nov. 18 trading session 2.83% lower at $196.53. The outage exacerbated the ongoing sell-off of the stock, and the closing price is 22.4% lower than the stock's peak closing price of $253.30 on October 31.

Web services company Cloudflare said it is aware of problems impacting "multiple customers" amid reports of outages at apps including X.

In a blog post, Cloudflare CEO Matthew Prince explained the cause of the outage that took a lot of websites offline on November 18.

Cloudflare experienced a "spike in unusual traffic” shortly before errors broke out across many major websites it serves, the internet infrastructure company told Newsweek. Read the full story here.

Many popular internet services experienced slowdowns and outages Tuesday morning, with the major web infrastructure company Cloudflare saying a bug led to broad problems on its network.

According to Lee, a configuration file like the one Cloudflare describes “drives routing security policies, load balancing decisions, and how traffic is distributed globally.” If the file suddenly increases in size, “it can trigger slower parsing, memory issues, CPU contention, or logic failures inside the systems that rely on it,” Lee adds.