BUZZ-US credit card firms fall as tariffs deepen recession fears

Reuters2025-04-07
BUZZ-US credit card firms fall as tariffs deepen recession fears

** Shares of U.S. credit card firms fall premarket, extending losses to a third session after President Donald Trump last week said he would impose a 10% baseline tariff on all imports and higher duties on dozens of other countries

** American Express Co <AXP.N>down 3.8%, Mastercard Inc <MA.N> slips 2.8%, Visa Inc <V.N> falls 2.5%

** Payment firms face the risk of weak credit card spending, as consumer confidence is expected to take a hit from economic uncertainties stoked by the trade war

** Since Trump announced tariffs on Wednesday, AXP has fallen 15.1%, MA down 10.5%, and V has fallen 9.6%, as of last close

(Reporting by Ateev Bhandari in Bengaluru)

((ateev.bhandari@thomsonreuters.com))

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