SG - Fintech stocks take a nosedive this week amid broader stock market slump; some regional banks gain

Property and casualty insurer Sweetgreen (NYSE:SG) -38% sinks to its post-IPO low amid continued concerns about inflation, interest rates and the Omicron variant. SG is therefore the largest percentage loser among financial stocks this week (with market cap of $2B or more). Hong-Kong-based brokerage and wealth management platform Futu Holdings (NASDAQ:FUTU) -21.2% falls as Chinese stocks slump. Seeking Alpha warns investors that FUTU is at high risk of performing badly when compared with its peers. Crypto bank Silvergate (NYSE:SI) -18.6% slides as the broader crypto market also extend losses; Consumer finance platform (NASDAQ:UPST) -18.1% declines as investors turn to safer haven assets from fintech stocks and; Fintech LendingClub (NYSE:LC) -18% decreases. Looking at financial stocks making the biggest gains this past week, regional bank Bancolombia (NYSE:CIB) +15.9% tops the list; Columbia Financial (NASDAQ:CLBK) +6.7% rises as it inked a merger agreement with RSI Bank; Colombia-based Grupo Aval Acciones y Valores (NYSE:AVAL) +5.2% gains this week, but still lower by 9.3% on a M/M basis; Western Union (NYSE:WU) +5.1% increases

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Fintech stocks take a nosedive this week amid broader stock market slump; some regional banks gain