US fintechs fall as market meltdown extends to third day

Shares of U.S. fintech companies fall premarket, extending losses for the third day after President Donald Trump last week announced tariffs on dozens of countries, prompting retaliation from China

Upstart Holdings UPST.O down 7.6%, Pagaya Technologies PGY.O falls 6.8%, and LendingClub LC.N down 5.6%

Affirm AFRM.O falls 5.5%, Block XYZ.N slips 5%, and PayPal PYPL.O drops 3.1%

Analysts have said potential inflationary pressures from tariffs could weigh on consumer spending; market turmoil amid economic uncertainty could further dampen sentiment

Swedish fintech Klarna paused its plans for a U.S. IPO on Friday as investor and consumer sentiments continue to erode amid a tariffs-induced global market rout