Buy now, pay later firms fall after doubts over Trump's credit card rate cap plan

Shares of buy now, pay later firms fall after initial gains following U.S. President Donald Trump's calls for one-year cap on credit card interest rates at 10%, starting January 20

*Some analysts say imposing a cap on interest rates will require legislation and can exceed the president's authority, casting doubts on whether the policy will materialize

Investors say the proposal can push borrowers away from traditional credit cards and toward alternative lenders, including BNPL providers

Klarna KLAR.N falls 4.2%, Affirm AFRM.O sheds 6.9%

Sezzle SEZL.O slips 2.2%