Sept. 9, 2019, 2:05 p.m. EDT

Visa stock the biggest drag on the Dow, as payments sector suffers broad decline

Shares of Visa Inc. (NYS:V) swung into negative territory Monday, to pull back sharply from a record high, and to be the biggest drag on the Dow Jones Industrial Average (DOW:DJIA) . The stock was up as much as 0.7% at an intraday high of $187.05, which would have put it on track for a third-straight record close, but pulled a U-turn to be down $5.94, or 3.2% at $179.80 in afternoon trading. The price decline shaves about 40 points off the Dow's price, which was up 16 points. Shares of some of Visa's payments peers also fell, with shares of Mastercard Inc. (NYS:MA) down 3.5%, Square Inc. (NYS:SQ) shedding 3.2% and PayPal Holdings Inc. (NAS:PYPL) losing 4.5%. Elsewhere, American Express Co.'s stock slipped 0.4% and Fiserv Inc. shares (NAS:FISV) shed 2.2%.

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