Stock Track | MasterCard Plummets 5.06% Intraday as JPMorgan CFO Warns of Credit Card Rate Cap Impact
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MasterCard's stock fell sharply by 5.06% during Tuesday's intraday trading session, underperforming the broader market. The decline aligns with a sector-wide sell-off among payment processors following a warning from JPMorgan's CFO about potential regulatory risks.
The drop was triggered by concerns over a proposed credit card rate cap, which JPMorgan's CFO cautioned could negatively impact U.S. consumers and the economy. This regulatory uncertainty has weighed heavily on payment processors, with Visa and American Express also experiencing declines of 3.1% and 0.9%, respectively.
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