Wall Street

Buy-Now-Pay-Later Star Klarna Tumbles From Its Pedestal

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The Street

By Luc Olinga The rout of markets, due to recession fears, is hurting the valuations of even the most promising startups. So far, 2022 has been a terrible year for the markets. The Federal Reserve’s (Fed) decision to hike rates to fight inflation, which is at a 40-year high, has hit tech companies particularly hard. Investors who fear a difficult future and in the worst case a recession have been liquidating their positions and opting for caution. They want to see how the economy will react in the coming months. This wait-and-see attitude penalizes companies that live on promises of future pro…

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