American Express shares fall 1.13% intraday as Fed Chair Powell's comments on inflation and tariffs cool market optimism.

American Express Company declined 1.13% intraday, with the appointment of Armando Herrera as the chief executive of Nubank's Mexican operation, Nu Mexico, potentially impacting American Express's market position in the region. Herrera, a former vice president and general manager at American Express, brings extensive financial services experience to Nubank, which is experiencing significant growth in Mexico. This news may have contributed to the stock's decline as investors reassess American Express's competitive landscape in the fintech sector.