BUZZ-US card firms slide as Trump's tariffs spark spending fears

Reuters04-03

** Shares of U.S. credit card firms fall in premarket trading after President Trump said on Wednesday he would impose tariffs on major geographies including China and the European Union

** American Express Co down AXP.N 4.1%, Visa Inc falls V.N 2.9% and Mastercard Inc slips MA.N 2.8%

** Payment firms are facing the risk of slowing down in spending on credit cards due to a hit to consumer confidence as economies face pressure from tariffs and global trade war

** The tariffs appeared to target about 60 countries, with base 10% tariffs going into effect on April 5 and the higher reciprocal rates on April 9

(Reporting by Jaiveer Singh Shekhawat in Bengaluru)

((JaiveerSingh.Shekhawat@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment