Capital One, American Express, other credit card stocks drop on US market after Trump's 10% cap on interest rate move

Credit card companies' stocks, like those of Capital One, American Express, JPMorgan and Chase, among others, dropped during the early US stock market session on Monday, 12 January 2026, after US President Donald Trump's move to impose a 10% cap on interest rates last week.

On Friday last week, Donald Trump proposed to impose a one-year cap on the credit card interest rate at 10% effective from 20 January 2026, reported the news portal CNBC.

According to the news report, Trump's plan to impose the cap can likely make the credit card industry unprofitable, which is tied to customers who have less-than-ideal credit profiles. The report also mentions that the average interest rate on credit cards in the United States is 19.7% as of January 2026.

Credit card stocks snapshot

1. Capital One Financial Corp. (COF): Capital One shares dropped over 8.22% to $228.70 during Monday's trading session, compared to $249.20 at the previous Wall Street close, according to MarketWatch data.

The company's stock hit its 52-week high level at $259.64, while the 52-week low level stood at $143.22, as per the data. The company's market capitalisation (M-Cap) stood at $158.42 billion as of Monday's market.

2. Visa Inc. (V): Visa shares dropped more than 3% to $337.32 in the early trading session, compared to $349.77 at the previous market close, MarketWatch data shows.

Shares of the company hit their 52-week high level at $375.51, while the 52-week low level stood at $299. The company's market capitalisation (M-Cap) was at $668.84 billion as of Monday's trading session.

3. American Express Co. (AXP): American Express shares dropped more than 5% to $355.51 on Monday, compared to the previous US market close at $375.61, MarketWatch data shows.

Amex shares hit their year-high levels at $387.49, while the year-low levels stood at $220.43. The company's market cap stood at $258.74 billion as of Monday's stock market session.

4. Citigroup Inc. (C): Citigroup shares lost 3.8% to $116.67 on Monday, compared to $121.32, according to MarketWatch data.

Citigroup shares hit their 52-week high level at $124.17, while the 52-week low level was at $55.51. The company's M-Cap stood at $217.07 billion as of the stock market session on 12 January 2026.

5. Mastercard Inc. (MA): Mastercard stock dropped 3.4% to $555.89, compared to $575.54 at the previous market close, according to MarketWatch data.

Shares of Mastercard hit their 52-week high level at $601.77, while the 52-week low level stood at $465.59. The company's M-Cap stood at $516.83 billion as of Monday's Wall Street session.

6. JPMorgan Chase & Co. (JPM): JPMorgan Chase stock dropped 2.41% to $321.23 during Monday's market session, compared to $329.19 at the previous market close, according to MarketWatch data.

JPMorgan's stock hit its 52-week high level at $337.25, while the 52-week low level stood at $202.16. The company's market cap stood at $896.14 billion as of the stock market session on Monday, 12 January 2026.

7. Bank of America Corp. (BAC): Bank of America's stock price dropped 1.95% to $54.76 on Monday, compared to $55.85 at the previous trading close, MarketWatch data shows.

The lender's shares hit their 52-week high level at $57.55, while the 52-week low level stood at $33.07. Bank of America's market cap stood at $407.84 billion as of the stock market session on 12 January 2026.

8. Wells Fargo & Co. (WFC): Wells Fargo shares dropped 2.14% to $93.89 on Monday, compared to $95.95 at the previous market close, MarketWatch data shows.

The company's shares hit their 52-week high level at $97.76, while the 52-week low level stood at $58.42. The company's M-Cap stood at $301.2 billion as of the stock market session on Monday.

9. Affirm Holdings Inc. (AFRM): Affirm Holdings shares dropped 8% to $75.25, compared to $81.80 at the previous market close, according to MarketWatch data.

The company's shares hit their 52-week high at $100, while the 52-week low level at $30.90. Affirm's market capitalisation (M-Cap) stood at $27 billion as of the stock market session on Monday.

10. US Bancorp (USB): US Bancorp shares dropped 2.9% to $53.56 during Monday's market session, compared to $55.21 at the previous market close.

The company's shares hit their 52-week high level at $56.20, while the 52-week low level stood at $35.18, according to MarketWatch data. The company's market cap stood at $85.82 billion as of the stock market session on 12 January 2026.

Read all US stock market news here

Read all stories by Anubhav Mukherjee

Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.