Fiserv Shares’ Slump Worsens as Merchant Growth Misses

Fiserv Inc.’s stock plunged Wednesday after the financial-technology company reported lackluster growth in its merchant business.

The shares closed down 14%, the most since May 15, after sinking as much as 23% during the session, the biggest intraday drop since October 2000. It’s the latest selloff in a dismal four months for Fiserv, which has slid 40% from a record close in early March, weighed down by growth disappointment and general macroeconomic uncertainty.