Financial markets have a central role in allocating resources in modern economies.One of the main functions of financial markets is the discovery of information. Thisinformation in turn helps guide decisions in the real side of the economy. The literatureon the “feedback effect” of financial markets explores this channel. Empiricalwork tries to identify the informational feedback from markets to corporate decisions.Theoretical work explores implications that this feedback effect has for theequilibrium in financial markets and for economic efficiency. Current trends in informationtechnology under the FinTech revolution change the nature of informationprocessing in financial markets and so may change the nature of the feedback effect.In this article, I review the main themes of this developing literature and connectthem to the current information revolution. I also discuss directions for future research.