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A 10% cap on interest rates could mean a big hit to earnings at companies like Capital One and Synchrony. But a Jefferies analyst says it's "highly unlikely" that Trump gets his way.
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A broader shift out of U.S. financial assets would revive last year's trend called the "sell America" trade.
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Capital One drops 6%, other banks hit after Trump calls for credit card rate cap CNBCFinancial stocks fall as Trump's credit card rate cap plan rattles investors ReutersSoFi CEO says Trump's proposed credit card cap would drive people to personal loans, and that's good for SoFi Business InsiderTrump Says Credit Card Firms Violate Law If Rates Not Capped Bloomberg.com
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S&P 500, Dow climb to closing records as traders look past Fed independence risk: Live updates CNBCStock market today: Dow, S&P 500 eke out records, gold soars after Trump amps up fight with Fed, Powell Yahoo FinanceCNBC Daily Open: Powell probe rattles Washington, but Wall Street shrugs CNBCStocks and Treasuries calm after Fed indictment jitters, dollar weakens Reuters
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