Chime Financial, Inc. (NASDAQ: CHYM) saw its stock price plummet 5.69% in pre-market trading on Friday, as escalating geopolitical tensions in the Middle East triggered a broad market selloff. The decline comes just a day after the digital bank's successful initial public offering (IPO), which saw the stock soar 37% in its debut.

The sharp reversal in Chime's stock price is primarily attributed to Israel's military strike on Iran's nuclear program, which has sent shockwaves through global financial markets. The attack has led to a significant spike in oil prices and a flight to safe-haven assets, causing a widespread decline in stock futures, particularly in the technology sector.

Despite the current market turbulence, Chime Financial's long-term prospects remain largely unchanged. The company, which targets households earning up to $100,000 per year, reported strong financial results in its most recent quarter, with 32% year-over-year revenue growth and a positive net income. However, the current geopolitical situation has overshadowed these fundamentals, at least in the short term.