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Benzinga
Benzinga
Business
Henry Khederian

Why PayPal Shares Are Getting Hammered Today

PayPal US Federal Reserve Nasdaq PayPal Holdings Inc

PayPal Holdings Inc (NASDAQ:PYPL) shares are trading lower by 5.87% to $71.38 amid overall market weakness after the Federal Reserve on Wednesday raised its target fed funds rate by 75 basis points to a new range of between 1.5% and 1.75%, its largest interest rate hike in 28 years.

“Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures,” the Fed said in a statement… Read More

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