Why Shares of SoFi Are Falling Today

Shares of the one-stop financial services company SoFi (NASDAQ: SOFI) traded nearly 3.7% lower today for no obvious reason other than broader market trends, which seemed to be pulling most fintech companies downward today. Inflation is still a question mark in terms of whether or not it has flatlined, and the Federal Reserve is expected to keep raising its benchmark overnight lending rate, the federal funds rate, to try and get inflation under control.