Shares of Visa Inc.
V,
sank 4.9% in afternoon buying and selling Friday, placing them on observe for the greatest one-day drop in 9 months, after The Wall Street Journal reported that the U.S. Justice Department was investigating whether or not the firm is partaking in anticompetitive practices in the debit-card market. Visa’s stock is pacing the Dow Jones Industrial Average’s
DJIA,
decliners; the stock’s $10.84 worth declines is shaving about 71 points off the Dow’s worth, which is down 152 points, or 0.5%. The WSJ report, citing folks acquainted with the matter, mentioned the Justice Department’s antitrust division was gathering info on whether or not Visa has restricted retailers’ means to route debit-card transactions over card networks which can be cheaper than Visa’s. Visa’s stock has now shed 4.1% yr thus far, whereas rival Mastercard Inc.’s stock has edged up 0.7% and the Dow has gained 6.9%.
