Shares of Pinterest (NYSE: PINS) were down 3.7% as of 12:38 p.m. ET on Tuesday following concerns about a possible recession on the horizon.

Bank executives at Bank of America and JPMorgan Chase warned of a recession coming next year, and that could have negative consequences for Pinterest and other social media stocks that rely on advertising to monetize users.

Rumors were floating on Wall Street Monday afternoon that Pinterest was cutting its recruiting team and slowing hiring, which fed into the talks of recession. 

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Source Fool.com