** Shares of U.S. card companies fall premarket after China said it will impose 84% tariffs on U.S. goods from Thursday, up from the 34% previously announced
** Visa V.N down 2.1%, Mastercard MA.N loses 2.9% while American Express AXP.N sheds 3.2%
** 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
** The stocks extend their losses from last week after U.S. President Donald Trump announced global reciprocal tariffs, with a brief break on Tuesday when shares rebounded on hopes of negotiation over tariffs
** Since Trump's "Liberation Day" speech, as of last close, Visa has lost 11%, Mastercard has lost 12.3% and American Express has lost 15.9%
(Reporting by Pritam Biswas 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.