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.