Capital One, American Express, Visa Sink on Trump Credit-Card Threat
On this episode of Stock Movers:- Capital One (COF), American Express (AMEX), Visa (V), along with shares of other US banks sank after President Donald Trump called on credit-card companies to cap interest rates at 10% for a year, a move that could wipe out billions in profits for one of the banking industry’s biggest businesses. Capital One, the largest US card issuer, tumbled as much as 8.2% in New York, the biggest intraday decline in nine months, after the president surprised the industry with a move he said could go into effect next week. American Express dropped 4.2% and JPMorgan…
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