U.S. markets closed
  • S&P 500

    4,397.94
    -84.79 (-1.89%)
     
  • Dow 30

    34,265.37
    -450.02 (-1.30%)
     
  • Nasdaq

    13,768.92
    -385.10 (-2.72%)
     
  • Russell 2000

    1,987.92
    -36.12 (-1.78%)
     
  • Crude Oil

    84.83
    -0.72 (-0.84%)
     
  • Gold

    1,836.10
    -6.50 (-0.35%)
     
  • Silver

    24.34
    -0.37 (-1.50%)
     
  • EUR/USD

    1.1348
    +0.0031 (+0.27%)
     
  • 10-Yr Bond

    1.7470
    -0.0860 (-4.69%)
     
  • GBP/USD

    1.3555
    -0.0045 (-0.33%)
     
  • USD/JPY

    113.6500
    -0.4500 (-0.39%)
     
  • BTC-USD

    35,187.66
    +290.61 (+0.83%)
     
  • CMC Crypto 200

    870.86
    +628.18 (+258.85%)
     
  • FTSE 100

    7,494.13
    -90.88 (-1.20%)
     
  • Nikkei 225

    27,522.26
    -250.67 (-0.90%)
     

Visa and Mastercard Stocks Are Ailing as Omicron Hits Travel

·4 min read
Visa and Mastercard Stocks Are Ailing as Omicron Hits Travel
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • MA
  • V

Visa and Mastercard are looking like early casualties of the Omicron variant of the Covid-19 virus. The big card networks rely heavily on revenues related to cross-border travel as consumers and businesses use their cards for plane tickets, hotels, and car rentals, as well as purchases in foreign countries. Forecasts for revenues and profits may need to come down if the Omicron variant puts the brakes on travel as countries reimpose bans or quarantine rules.