JPMorgan Chase stock slides as Trump’s 10% credit-card rate cap talk hits banks before earnings
JPMorgan Chase shares dropped about 2% to $322.59 Monday after President Donald Trump called for a one-year 10% cap on credit card interest rates. Bank stocks broadly fell, with Citigroup down 3.7% and Capital One off 8%. Investors await JPMorgan’s quarterly results Tuesday for updates on consumer credit and card pricing. Trump’s proposal did not include details on enforcement.