Why Shares of Square Are Volatile Today
Shares of Square (NYSE: SQ) were volatile Tuesday, trading nearly 3% down earlier today before recovering most of those losses. The stock is down more than 12% over the last week. There was no obvious reason behind the move, although all growth tech stocks, fintech in particular, seem to be struggling in the current macro environment.
The environment for growth stocks has gotten much more difficult. The large growth seen in the consumer price index in October has prompted more fears that inflation may not be as transitory as the Federal Reserve thinks. The Fed has also started to taper its bond-buying program, and the potential for rate hikes in 2022 has gotten a lot more real.
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Source Fool.com
