Fintech companies and credit card issuers were hit in the global market rout on Thursday, triggered by President Trump's tariff announcement, according to CNBC. Affirm, Robinhood, PayPal, American Express, Capital One, and Discover experienced significant declines following the market rout. Trump's announcement of a "reciprocal tariff" sent stocks plummeting, severely affecting companies reliant on consumer spending and global supply chains. Affirm has previously stated that rising prices might boost demand for its services. For more coverage on tariffs and how they impact your portfolio, visit benzinga.com.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Fintech companies and credit card issuers were hit in the Thursday market, triggered by President
00:07Trump's tariff announcement, according to CNBC. A firm, Robinhood PayPal, American Express Capital
00:12One, and Discover All experienced significant declines following the market rout. Trump's
00:17announcement of a reciprocal tariff sent stocks plummeting, several affecting companies reliant
00:22on consumer spending and global supply chains. A firm has previously stated that rising prices
00:28might boost demand for its services. For more coverage on tariffs and how they impact your
00:33portfolio, visit Benzinga.com. For all things money, visit Benzinga.com slash GSTV.