Cybersecurity firm CrowdStrike saw its shares plunge Friday, after an update led to a major outage, impacting businesses across the world.

Shares of the company, which makes software to help firms manage their security in IT environments, opened down more than 14%, and closed down about 11%.

Addressing the incident Friday morning, CrowdStrike CEO George Kurtz said the issues were caused by “a defect found in a single content update for Windows hosts.”

“This is not a security incident or cyberattack. The issue has been identified, isolated and a fix has been deployed,” Kurts said in a post on social media platform X.