US fintechs fall after China's retaliatory tariffs deepen spending slowdown fears

Shares of U.S. fintech stocks fall in premarket trading after China's finance ministry said on Friday it will respond to U.S. tariffs with additional tariffs of 34% on all U.S. goods from April 10

Affirm AFRM.O falls 11.4% and Pagaya Technologies PGY.O falls 5.3%; LendingClub LC.N down 4.6% and Upstart Holdings UPST.O down 9.3%

PayPal PYPL.O falls 5% and Block XYZ.N down 9.3%

Fintechs could struggle if potential inflationary pressures from tariffs weigh on consumer spending; market turmoil amid economic uncertainty could further dampen sentiment