Updates
** Shares of U.S. card companies jump, reversing course after U.S. President Donald Trump announces 90-day pause on many of his new tariffs that he had unveiled initially last week
** Visa V.N rises 6%, Mastercard MA.N up 6.1% and American Express AXP.N jumps 12.1%
** Trump, however, says he would raise the tariff on Chinese imports to 125% from the 104% level
** Payment firms face the risk of weak credit card spending, as consumer confidence is expected to take a hit from economic uncertainties stoked by the trade war
(Reporting by Pritam Biswas and Prakhar Srivastava in Bengaluru)
((Pritam.Biswas@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.