Stock Track | Visa Plummets 5% Intraday Amid AI Impact Concerns and Credit Card Fee Cap Pressure

Stock Track02-24 04:13

Visa's stock plummeted 5% during intraday trading on Monday, as the payment giant faced significant selling pressure.

The decline came amid broader concerns about artificial intelligence's potential impact on financial markets, following a report from Citrini Research that outlined hypothetical scenarios regarding AI's effects on the global economy. Payment stocks including Visa were specifically mentioned as experiencing declines in response to the research.

Additionally, credit card companies have been under pressure since the start of the year after President Donald Trump urged for a cap on credit card fees, creating regulatory uncertainty for payment processors like Visa and contributing to the stock's downward movement.

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