New York, Feb 27, 2026, 18:46 ET — After-hours
- American Express shares fell 7.3% in Friday’s regular session and were last at $308.90 after the close.
- A hotter U.S. producer-price report added to a risk-off mood that hit financial stocks into month-end.
- AmEx’s new 2 World Trade Center headquarters plan is on file; traders now look to next week’s U.S. jobs data.
American Express Company shares sank on Friday and stayed weak after the bell, as investors dumped financial stocks after another inflation surprise and a fresh bout of nerves around growth and lending.
The move matters because American Express sits close to the heart of consumer credit and travel spending. When markets turn defensive, card lenders tend to catch it fast.
It also lands at a tricky point on the calendar: month-end, with traders recalibrating rate-cut bets and looking for proof the labor market is either cooling gently or cracking.
U.S. stocks finished sharply lower, led by financials and technology. “To wrap up the month of February, we were reminded there are still some cracks out there,” said Ryan Detrick, chief market strategist at Carson Group, pointing to hotter inflation data and lingering worries tied to artificial intelligence, tariffs and geopolitics. 1
A Labor Department report showed the Producer Price Index (PPI) — a gauge of wholesale inflation — rose 0.5% in January, while “core” PPI, which strips out food and energy, climbed 0.8%. “Wider margins for producers could add some upside for consumer costs,” said Ben Ayers, a senior economist at Nationwide, adding he expects the Fed to stay on hold at its March meeting. 2
American Express’ drop amplified the hit to the Dow because the index is price-weighted, meaning big dollar moves in a single stock carry extra sway. MarketWatch estimated a $1 move in a Dow component shifts the index by about 6 points. 3
Visa and Mastercard also slid, but American Express moved more. The group’s retreat left traders watching for any sign that “sticky” inflation is starting to collide with consumers’ willingness — or ability — to spend.
Away from markets, the company filed an 8-K this week disclosing plans to build a new headquarters of roughly 2 million square feet at 200 Greenwich Street, the 2 World Trade Center site. Construction is slated to start in spring 2026 with completion expected in 2031, and the filing said the project is not expected to materially affect financial results. 4
American Express CEO Stephen Squeri called the skyscraper “an investment in our company’s future, our colleagues and the Lower Manhattan community,” the AP reported. The company did not disclose the cost of the project. 5
Next week’s focus stays on the labor market and on AI-related headlines that can swing sentiment fast. “There continues to be this back and forth about who might be the victim,” said Kristina Hooper, chief market strategist at Man Group, describing uncertainty over which industries will be hurt or helped by AI. 6
One risk for card lenders sits in Washington. President Donald Trump in January called for a one-year cap on credit card interest rates at 10%, without laying out how it would be implemented. Brian Jacobsen, chief economic strategist at Annex Wealth Management, noted credit card lines are “unsecured loans,” warning that limiting pricing could curb credit availability. 7
If next week’s data point to softer hiring, investors could lean harder into credit-loss worries and pull more risk out of consumer-facing financials. A stronger report could do the opposite — but it may also keep rate cuts pushed out, which markets have been punishing lately.
The next clear catalyst is the U.S. Employment Situation report for February, due March 6 at 8:30 a.m. ET. After that, attention turns to the Federal Reserve’s March 17–18 policy meeting. 8
