A 0.5% rise in the Producer Price Index sparked a broad equity sell-off as investors reassessed interest rate expectations. Shift4’s shares declined sharply in the afternoon session, reflecting concerns that persistent wholesale inflation could delay Fed rate cuts and pressure payment processing volumes.

Shift4 delivered adjusted EPS of $1.60, matching forecasts, but its outlook disappointed. The first-quarter revenue forecast was 51.6% below analyst estimates and the full-year EPS guidance sat 13.2% under projections at the midpoint, raising doubts about near-term growth trajectory.

Shift4 has been highly volatile, with 20 price swings exceeding 5% over the past year. The stock is down 29.5% year to date and sits 58.6% below its July peak, while a five-year investment has fallen to roughly 57% of its original value.