Why Mastercard Stock Fell 2.7% on Thursday
Credit card giant Mastercard (NYSE: MA) saw its stock price sink on Thursday, falling 2.7% at the closing bell to roughly $317 per share.
The major indexes were all down in mid-afternoon trading as the Dow Jones Industrial Average was down 173 points, or 0.6%, while the S&P 500 was down 45 points, or 1.1%, and the Nasdaq fell by 167 points, or 1.4%.
Mastercard saw a bit of volatility on Thursday, up slightly in the morning after the Commerce Department reported that retail sales were up 0.3% in August when they were expected to be flat. That is good news for payment processors like Mastercard, which rely on consumer spending to generate revenue.
Source Fool.com
