Capital One Shares Fall Nearly 6% After Breach

Capital One shares dropped about 6% Tuesday, after recovering from lows on the day.


Photo:

Drew Angerer/Getty Images

Capital One Financial
Corp.


COF -5.89%

’s shares suffered their worst day in more than six months after the company revealed a sprawling data breach.

The bank’s shares fell 5.9%, their largest percentage decline since Jan. 23., according to Dow Jones Market Data. At their low on Tuesday, Capital One shares were down about 7.9%, which would have been their worst day since 2015.

The fifth largest U.S. credit-card issuer said Monday that a hacker accessed the personal information of approximately 106 million card customers and applicants, one of the largest-ever data breaches of a big bank.

Recent history shows that it can be hard for companies to recover from these incidents.

Equifax
Inc.


EFX -0.92%

said in September 2017 that hackers gained access to some of its systems.

Its share price has still not recovered to its two-year high of $146.26, hit in August 2017 before the breach was revealed, FactSet data show. Equifax stock fell 1.1% on Tuesday to $141.21 in recent trading.

The financials sector in the S&P 500 also took a hit on Tuesday, falling 0.6%. Banks tend to fare better when interest rates are rising, and investors are girding for the Federal Reserve to cut rates for the first time in about a decade when it meets this week.

Write to Gunjan Banerji at Gunjan.Banerji@wsj.com

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