Fintech stocks like Affirm, PayPal plunge on concern Trump tariffs will hurt consumer spending
1. Affirm stock fell 19% following tariff announcements impacting consumer spending. 2. Higher tariffs may push consumers toward buy now, pay later services. 3. Analysts express concerns about potential delinquencies during economic downturns. 4. Overall market loss reached nearly $2 trillion, significantly affecting fintech firms. 5. Larger companies like Visa and Mastercard are better positioned against tariff risks.