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

Pagaya Technologies

04/04/2025 12:10

** 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

(Reporting by Ateev Bhandari in Bengaluru)

((Ateev.Bhandari@thomsonreuters.com))