Shopify is trading 3.21% lower at $170.85 as hotter-than-expected inflation pressures growth-sensitive shares. - Headline CPI rose 3.7% year over year, versus 3.6% expected; core inflation also topped expectations. - The Nasdaq is down 1.91% and the S&P 500 is down 1.27% in the supplied market context. - No clear Shopify-specific catalyst was identified.