Visa stock slides as Trump’s 10% credit-card rate cap talk hits payments names
Visa shares fell 1.6% to $344.25 by early afternoon Monday after President Trump proposed a one-year 10% cap on credit-card interest rates. Mastercard dropped 1.8%, American Express 4.2%. Analysts said such a cap would require Congressional approval, but the announcement increased volatility in card-related stocks. Traders are watching upcoming bank earnings and Tuesday’s CPI for further signals on consumer credit.