Affirm heads for second-worst week on record on tariff worries, Klarna delayed IPO

Affirm shares have plunged nearly 30% in the past two trading days and are on track to close out their second-worst week on record, following President Donald Trump's sweeping tariff announcement on Wednesday. Widespread tariffs could represent a particular problem for Affirm, because the provider of buy now, pay later loans is reliant on consumer spending, and economists expect prices to rise on all sorts of goods. The news got worse on Friday when Affirm rival Klarna delayed its long-anticipated IPO due to market volatility. Klarna had planned to debut on the New York Stock Exchange under the ticker KLAR, targeting a valuation around $15 billion. Affirm's market cap is now $11 billion. Klarna reported $2.81 billion in revenue last year, which is about what Affirm generated over the past four quarters. In addition to Klarna, ticketing marketplace StubHub hit pause on its share sale, raising concerns that the IPO market's expected rebound won't be taking place anytime soon. Chime is ... Read full article.