JPMorgan stock drops as Trump pushes 10% credit-card rate cap, with earnings up next
JPMorgan Chase & Co shares fell about 2% to $322.55 in morning trading on Monday after President Donald Trump called for a one-year cap that would limit credit card interest rates to 10%. “It would take an Act of Congress for such rate caps to be in place,” UBS Global analysts wrote, while Seaport Research analyst Bill Ryan said “affordability has become a top concern.”