Why Upstart Stock Is Sinking Today
Shares of Upstart (NASDAQ: UPST) are losing ground in Thursday's trading. The consumer credit-focused fintech company's share price was down roughly 6.8% as of 3:30 p.m. ET.
The Federal Reserve held its second meeting of the year yesterday and announced a 50 basis-point hike for interest rates that marked the biggest raise since 2000. Further spooking the market, the Fed also highlighted risk factors related to China's latest round of pandemic-related lockdowns and the war between Russia and Ukraine.
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Source Fool.com