Visa fell the Most in the S&P 500

Published on Wednesday, 08 September 2010 16:40 Written by Danny Miller

New York, September 8^th (Tradershuddle.com) – Shares of Visa (NYSE:V) fell the most in the S&P 500 after its shares dropped 4.13% to $68.55.

Visa (NYSE:V), the retail electronic payments network operator, fell after an analyst at Citigroup said that Visa faced more risk than Mastercard (NYSE:MA), as the Federal Reserve begins crafting the new rules for debit card fees called for in the financial reform legislation.

The debit card provision in the legislation is aimed at saving retailers billions of dollars in debit card fees, which merchants say results in inflated costs to consumers.

On a separate report the Federal Reserve said consumer credit showed that consumer debt fell by $3.6 billion in July, far less than the $5.25 billion decrease that was widely expected.

The stock moved downward, with above average volume, as 11.25 million shares traded, 1.74 times Goodyear’s average volume of 6.47 million shares.

The stock's 52-week low is $66.54 and its 52-week high is $97.19.