US banks, credit card issuers drop after Trump calls for cap on credit card interest rates

Shares of U.S. banks, credit card issuers and payment processors drop premarket

President Donald Trump said on Friday he was calling for a one-year cap on credit card interest rates at 10% starting on January 20

U.S. banks, JPMorgan Chase JPM.N down 2.4%, Citigroup C.N falls 3.6%, Bank of America BAC.N down 1.5%

U.S. credit card issuers, American Express AXP.N down 3.6%, Synchrony Financial SYF.N slides 8.8%, Capital One Financial COF.N dips 7.7%

Payments processors also get hit; Visa V.N down 1.6%, Mastercard MA.N falls 1.8%