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 down 3.8%, Mastercard Inc slips 2.8%, Visa Inc 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