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Business
Chris Markoch

Amex Stock Slides on Job Cuts, But the Real Story Is Macro

AMEX American Express Layoffs AXP NYSE

American Express Co. (NYSE: AXP) reported third-quarter 2026 earnings before the opening bell on Oct. 23. The results were solid. Yet when the market opened, AXP was the worst-performing stock in the Dow Jones Industrial Average (DJIA).

Investors who follow American Express have seen this movie before. The company delivers strong quarterly results, and the stock sells off anyway. The only questions are how long the selling will last and whether it should scare away long-term investors.

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