American Express (NYSE:AXP) Crushed on Credit Card Speculation

Shares of American Express (NYSE:AXP) are under pressure today as speculation is swirling about the possibility fee caps on debit cards may be extended to credit cards.

Stifel Nicolaus said, “We are increasingly convinced that credit interchange will inevitably be the next target,. The now- significant disparity in payments’ costs greatly increase the risk.”

Visa (NYSE:V) and Mastercard (NYSE:MA) both plummeted last week on the proposition by the Federal Reserve that the companies' debit fees should be slashed by up to 84 percent; much higher than the market was looking for.

American Express (NYSE:AXP) was trading at $41.35, down $2.66, or 6.04 percent, as of 12:59 PM EST. Visa was at $67.61, up $0.71, or 1.06 percent. Mastercard was trading at $223.55, up $2.29, or 1.03 percent.