Why Upstart Stock Is Falling Fast Today
Shares of Upstart Holdings (NASDAQ: UPST) were sliding today on no company-specific news. Instead, investors were concerned about comments made by a Federal Reserve official about rising interest rates.
Investors are worried that ongoing interest rate hikes could spur a recession and the financial industry, which includes fintech companies like Upstart, is more sensitive to investors' concerns about an economic slowdown.
As a result, Upstart's share price was down by 3.8% as of 1:51 p.m. ET.
Source Fool.com
