Why Shopify Stock Is Falling Today
Shares of the e-commerce platform company Shopify (NYSE: SHOP) were sliding today, on seemingly no company-specific news. Instead, investors were likely continuing to fear that high inflation and interest rate hikes by the Federal Reserve could slow down the economy.
These aren't exactly new worries for investors, but recent comments made by former Federal Reserve chairman Ben Bernanke may have caused additional worry. The tech stock was down by 9.4% at 11:11 a.m. ET.
Investors have grown increasingly concerned that the Fed won't be able to pull off a so-called soft landing for the economy as it raises the federal funds rate to tamp down inflation, which is running at a nearly 40-year high.
Source Fool.com
