Why Visa and Mastercard Stocks Both Dropped Today
Shares of credit card giant Visa (NYSE: V) stock took a tumble today, falling 5% through 12:40 p.m. EDT on news that the U.S. Department of Justice is investigating the company for engaging in potentially anticompetitive practices in the debit card market, The Wall Street Journal reports this morning.
Shares of Mastercard (NYSE: MA) are suffering similarly, but less so -- down 3% -- as shareholders there worry that the investigation could spread to include the company. Curiously, American Express and Discover Financial stocks are mostly unaffected so far, down just a fraction of a percent each.
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Source Fool.com
