LIVE MARKETS-Fundstrat: Credit-card rate cap may also hurt airlines, hotels, retailers
U.S. President Trump's proposal to cap credit-card interest rates may negatively impact various industries, including airlines, hotels, and retailers, according to Fundstrat's Kent Fung. With one-third of U.S. consumer spending on credit cards, the cap could reduce overall consumer spending and lead to stricter credit approvals. Shares of card issuers and payment networks have declined, while airlines, which benefit from swipe fees, are also expected to suffer. Conversely, gas station operators may benefit from reduced swipe fees. Overall, market reactions remain cautious amid these developments.