Stock Track | American Express Plunges 5.26% in Pre-market as China's Retaliatory Tariffs Spark Spending Slowdown Fears

Stock Track

Apr 04, 2025

American Express (AXP) shares tumbled 5.26% in pre-market trading on Friday, as investors reacted to China's announcement of additional tariffs on US goods in the escalating trade war. The move has stoked fears of a potential slowdown in consumer spending, which could directly impact credit card companies.

The sell-off in American Express stock comes as part of a broader decline among US card firms. Visa and Mastercard also saw their shares fall in pre-market trading, down 2.6% and 2.7% respectively. This latest drop follows a significant 10% decline for American Express on Thursday, highlighting the growing concerns in the financial services sector about the economic impact of the US-China trade dispute.

Adding to the negative sentiment, HSBC cut its price target for American Express from $299 to $273, reflecting lowered expectations for the company's performance in light of the current economic uncertainties. As consumer confidence potentially takes a hit from the trade war, credit card companies face the risk of weakened spending and could see their revenues impacted in the coming months.

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The move has stoked fears of a potential slowdown in consumer spending, which could directly impact credit card companies.</p>\n\n<p>The sell-off in American Express stock comes as part of a broader decline among US card firms. Visa and Mastercard also saw their shares fall in pre-market trading, down 2.6% and 2.7% respectively. This latest drop follows a significant 10% decline for American Express on Thursday, highlighting the growing concerns in the financial services sector about the economic impact of the US-China trade dispute.</p>\n\n<p>Adding to the negative sentiment, HSBC cut its price target for American Express from $299 to $273, reflecting lowered expectations for the company's performance in light of the current economic uncertainties. As consumer confidence potentially takes a hit from the trade war, credit card companies face the risk of weakened spending and could see their revenues impacted in the coming months.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AXP","symbol_name":"美国运通","start_time":0,"source_url":"","article_id":"1167538263","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1167538263","pubTimestamp":1743766249,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"American Express  shares tumbled 5.26% in pre-market trading on Friday, as investors reacted to China's announcement of additional tariffs on US goods in the escalating trade war. 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