Mastercard (MA) Down On American Express Warning

Mastercard (NYSE: MA) is 3.4% lower in after-hours action which is related to news that American Express (NYSE: AXP) said Cardmember spending began to slow during December. AmEx is taking a $440 million Q4 charge due to increased reserves as delinquencies and loan write-offs trended upward.

Mastercard is a credit card processor so news of the slowing spending, not delinquencies, is worrying investors.

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