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Why Shares of Capital One, Synchrony Financial, and Upstart Are Falling This Week

Why Shares of Capital One, Synchrony Financial, and Upstart Are Falling This Week

For the week, shares of the credit card lender Capital One Financial (NYSE: COF) had dropped nearly 15% as of 2:45 p.m. ET Thursday, according to data provided by S&P Global Market Intelligence. Shares of another credit card lender, Synchrony Financial (NYSE: SYF), traded 12.5% lower, while shares of the artificial intelligence-assisted loan company Upstart Holdings (NASDAQ: UPST) were down more than 15%. For consumer lenders, losses can spike due to rising interest rates and an economic downturn.