Why Visa and Mastercard Stocks Dropped Today

Here we go again.

News of a new coronavirus variant in South Africa sent stock markets reeling on Friday, with the S&P 500 falling 2% through 12:22 p.m. ET and the Dow tumbling 2.5%. Even financial giants like Visa (NYSE: V) and Mastercard (NYSE: MA) weren't immune to the pain, either. Visa shares are currently down 2.7%, and Mastercard is down 4.7%.

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Source Fool.com