New York, Feb 23, 2026, 06:16 ET — Premarket
- SoFi Technologies shares slipped ahead of the U.S. open, with traders scaling back on risk.
- New tariff headlines weighed on futures and hit high-beta stocks.
- Crypto dropped, pulling down shares of companies tied to digital assets.
SoFi Technologies Inc slipped 1.5% to $19.02 ahead of the open on Monday, moving lower alongside other risk-sensitive stocks.
Politics and pricing are front and center. After the U.S. Supreme Court stripped away major components of President Donald Trump’s previous tariff approach, Trump responded with a sweeping new tariff: 10% starting Tuesday, jumping to 15% “effectively immediately.” Investors are left in the dark on possible carveouts and what might come next. Reuters
Stock index futures in the U.S. slipped before the market opened, as the tariff changes triggered new uncertainty around expenses and appetite. “It’s really hard from a business standpoint … to know how do you plan,” said Arthur Laffer Jr., president of Laffer Tengler Investments. Reuters
Another drag from crypto. Bitcoin dropped 2.7%, while ether lost 3.2% in the latest session — declines that often ripple out to fintech and broker stocks when caution edges in.
Fintech stocks opened with mixed moves. Upstart Holdings dropped 4.4%, Affirm ticked down 1.4%. Coinbase Global, meanwhile, climbed 3.3% before the bell.
SoFi is still working to persuade investors it’s not just a lending story. Fourth-quarter profit climbed in late January, thanks in part to robust loan demand and a surge in fee-based business. CEO Anthony Noto also pointed to personal loans as one area that could see a boost if credit card lending dries up.
The company’s push into digital assets continues. In November, SoFi announced plans to launch crypto trading for its customers, linking a segment of its narrative—and investor mood—to the ups and downs of bitcoin.
Traders are weighing if the tariff chatter dies down or if it sets off fresh rounds of headline swings next week. SoFi acts much like a high-beta stock; it rallies with growth names on strong sentiment, but takes a hit when investors retreat to cash and safer plays.
The flip side is pretty clear. Should tariffs push up inflation expectations or drag on growth, those rate-cut hopes could slip away. Funding costs might remain stubborn, and suddenly, consumer credit metrics don’t look so tidy — a rough combo for banks and high-flying fintechs.
Investors are set to hunt for details on tariff timing later Monday, while crypto’s next moves remain in focus. Up ahead: the Federal Reserve’s policy meeting, scheduled for March 17–18.
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