US Stock Market Move | Payment concept sector continues yesterday's decline, Visa (V.US) fell more than 3.8%.
Payment concept section continues yesterday's decline.
On Tuesday, the payment concept sector continued its decline from yesterday. As of the time of writing, Bread Financial (BFH.US) and Synchrony Financial (SYF.US) fell by over 1%, American Express Company (AXP.UE) dropped by nearly 1%, Visa (V.US) fell by over 3.8%, Mastercard (MA.US) fell by 3.5%, and Affirm Holdings (AFRM.US) fell by over 5%. Large banks also trended lower, with Bank of America Corp (BAC.US) and Citigroup (C.US) dropping by 0.5%, and JPMorgan Chase (JPM.US) falling by over 2.6%. On the news front, earlier, US President Trump called for a 10% cap on credit card interest rates, sparking concerns in the market about the potential impact on the profit models of banks and credit card companies.
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