These fintech shares have sunk like stones today

The Praemium Ltd (ASX:PPS) share price is one of four in the fintech industry dropping notably lower on Monday. Here's why…

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While all sectors except for the energy sector are in the red today, one area of the market that has fallen more than most is the fintech industry.

In afternoon trade a number of popular fintech shares have dropped deep into the red.

Here's the current state of play:

The Bravura Solutions Ltd (ASX: BVS) share price is down 1.5% to $4.05.

The Hub24 Ltd (ASX: HUB) share price has fallen over 6% to $13.22.

The Netwealth Group Ltd (ASX: NWL) share price has fallen a massive 10.5% to $8.66.

The Praemium Ltd (ASX: PPS) share price has dropped a sizeable 9.5% to 88.5 cents.

Why are these fintech shares sinking lower?

There doesn't appear to be a real catalyst for these declines, which could indicate that some traders are taking profit after the group delivered stellar share price gains over the last few months.

For example, even after today's declines, over the last three months Bravura Solutions' shares are up 5%, HUB24's shares are up 24%, Netwealth's shares are up 25%, and Praemium's shares are 27% higher.

However, it is worth noting that some fund managers including Pendal Group Ltd (ASX: PDL) and Janus Henderson Group PLC (ASX: JHG) have taken a bit of a tumble today as well.

Investors may be concerned that President Trump could be on the verge of causing an all-out global trade war. This could result in a slowdown of global economic growth and weigh heavily on share markets and ultimately on funds under management.

As both fund managers and platform providers generally earn fees based on their funds under management, the market may be concerned that the companies listed above may not grow at as a quick a rate as previously expected.

While I am optimistic that a global trade war will be averted, I feel it is definitely something that ought to be considered before investing in these shares.

Afterpay surges again.

Pleasingly, not all fintech shares were in the red today. At the time of writing the Afterpay Touch Group Ltd (ASX: APT) share price is up a further 8% to $15.54 after the release of a favourable broker note out of Ord Minnett.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Bravura Solutions Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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