Here's Why Visa Is Falling on Monday

Even after the Federal Reserve announced that it would expand its $700 billion quantitative easing plan to an unlimited amount, the stock market generally stayed in the red on Monday morning. As of 10:40 a.m. EDT, both the Dow Jones Industrial Average and the S&P 500 were down by almost 2%. While a combination of coronavirus-related news items are fueling the decline, the main reason is the delay of the fiscal stimulus bill that was widely expected to be finalized over the weekend.

Visa (NYSE: V) is getting hit especially hard, with shares down by more than 7%, reaching a fresh 52-week low. Since the beginning of February, the payment processing giant that has been a big beneficiary of the so-called war on cash has lost more than 30% of its market value.

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Source Fool.com