American Express (NYSE: AXP) experienced a more than 3% drop in stock value on Friday, significantly underperforming the S&P 500’s slight decline, following a report from The Wall Street Journal about major U.S. retailers exploring the use of stablecoins in their operations. These cryptocurrencies, pegged to fiat currencies, could threaten American Express’s customer base.
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Why American Express Stock Flopped on Friday
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