People are waiting in line for T-shirts in pop-up kiosk for the Internet Broke Robin Society along the Wall Street after the company has publicly announced the starting public offer earlier that day on July 29, 2021 in New York.
Spencer Platt | Getty Images
It was a bad day for technological stocks and brutal for Fintech.
Like Nasdaq suffered His purest decline since 2022, some of the biggest losers were companies sitting at the intersection of Wall Street and Silicon Valley.
Stock trading app app Slaves 20%crashed, Bitcoin holder Strategy dropped 17% and a crypto exchange Coin lost 18%. A large part of the slide in those three stocks was tied to the fall Bitcoinwhich fell almost 5%, continuing its path down. The price of the leading currency is now reduced by 19% in the last month, it fell after a large pop after the procedure in late 2024.
In addition to the crypto shops, internet loans and payment companies have also fallen more than the wider market. Confirmwho popularized to buy now, pay later loans, they fell 11%, as the case Sofiwhich offers personal loans and mortgages. Shopififywhich provides more than 7%to online merchants.
Jpmorgan chase Fintech analysts on Monday highlighted the decline in consumer trust as a potential challenge for companies that rely on consumer consumer consumer consumer. At the end of February, the Consumer Consumer Consumer Index index slipped off to 98.3 for a month, a fall near 7%, the biggest monthly fall since August 2021. Walmart He recently reported that a departure from discretionary shopping, undergoing potential problems.
“Our universe has modestly surpassed the S&P 500 from the election, but the mood has lately abolished the decline in consumer trust and the signs of slowing discretionary consumption,” said JPMORGAN analysts.
Fintech sale follows a strong rally in the fourth quarter, encouraged by the expectations of the Fed and hope in a more favorable regulatory environment under Trump’s administration.
