🔴 Shopify is trading 3.02% down today as hotter U.S. inflation lifts rate concerns

Shopify is trading at CA$243.47, down 3.02%, amid pressure on technology and growth stocks after hotter-than-expected U.S. inflation lifted Treasury yields and rate-hike concerns.

• No clear Shopify-specific announcement or catalyst surfaced in available coverage.
• September CPI was 3.7% year over year versus 3.6% expected; core CPI was 2.6% versus 2.5% expected.
• The Nasdaq fell 1.91% during the session. Shopify closed at CA$251.04 on October 13; the current decline follows its prior-session gain.