Affirm Holdings, Inc. (AFRM) saw its stock price plummet 5.78% in pre-market trading on Friday, continuing its downward trend from the previous day's sharp decline. This movement comes amid a broader market selloff triggered by President Donald Trump's announcement of sweeping global tariffs and growing concerns about the U.S. economy.
The "buy now, pay later" lender had already experienced a significant drop of 19% on Thursday, as investors reacted to fears that the newly imposed tariffs could boost inflation and potentially reduce demand for consumer loans. The fintech sector, in particular, has been hit hard by these concerns, with other companies like PayPal also seeing substantial declines.
Affirm's pre-market slide reflects ongoing investor anxiety about the impact of trade tensions on the U.S. economy and consumer spending. As a company heavily reliant on consumer loan demand, Affirm is particularly vulnerable to economic slowdowns and changes in consumer behavior. The market will be closely watching the release of the monthly jobs report later today, which could provide further insight into the health of the U.S. economy and potentially influence Affirm's stock performance.
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