Wall Street falls with financials amid credit card rate plan concern
Tue January 13, 2026 4:46 PM
Yesterday’s credit card proposal capping interest charges at 10% has thrown the banks for a loop with another big sell off that brought both MasterCard and Visa down about 4% and the overall financial sector down 1.8%. Jamie Dimon chimed in today with a warning that the plan could “severely hurt consumers” and the overall economy while JPMorgan dropped 4.2%.
Another financial expert opined that it probably wouldn’t happen, “It’s going to be extremely difficult to have that become a reality, but it’s still out there.” Overall Q4 reporting is expected to be positive and today’s declines are being dismissed as “a little bit of letting the air out of the balloon” after recent record highs. At nearly 18.7 billion, volume was considerably above the 16.4 average.
DJ: 49,590.20 +86.13 NAS: 23,733.90
+62.56 S&P: 6,977.27
+10.99 1/12
DJ: 49,191.99 -398.21 NAS: 23,709.87
-24.03 S&P: 6,963.74
-13.53 1/13
Tue 1-13-26 4:46 pm Wall Street falls with financials amid credit card rate plan concern | Reuters
No comments:
Post a Comment