Update: As Markets Enter Correction Territory, FinTech IPO Index Plunges 4.8%

Markets were awash in a sea of red this past week, and the broader gauges, such as the Dow and the S&P 500 Stock Index, have touched correction territory, down at least 10% from their peaks.

The FinTech IPO Index fared no better through the past five days, sinking 4.8%, and there were few positive returns to be seen among the downdraft.

Macro concerns — particularly on tariffs and the as-yet-untold impact of a trade war — ruled the week. Financial sector names were among the hardest hit...