What happened Shares of Mastercard (NYSE: MA) traded 5.2% lower as of 1:25 p.m. EDT today for no obvious reasons other than broader macroeconomic factors and market sentiment. So what Shares of the payments company dipped as the broader market got creamed today due to concerns over rising cases of the COVID delta variant across the country. At one point, the Dow Jones Industrial Average had tumbled roughly 900 points as the market panicked about the potential for slower economic growth and even potential lockdowns. While you might see the Mastercard logo on many of your debit and credit cards, the company does not make credit card loans, but is instead a global payments company that facilitates transactions. Therefore, it makes money based on total spend volume, so slower economic growth and potential lockdowns are not good for the company. Image source: Getty Images. Now what In recent months, Mastercard stock has hit new highs as the economy has reopened and spending levels have surpassed those in 2019. The company reported recently that U.S. retail sales excluding automotive and gasoline increased 11% in June on a year-over-year basis and 10.4% compared to June 2019. E-commerce growth also continued to perform well, up 8.3% year over year. This should bode well for when the company reports second-quarter earnings at the end of the month. The further adoption of digital payments should also be a good sign for the company. While the increase in new COVID delta variant cases is quite concerning, it's still probably too early to know whether the recent uptick will slow economic growth or result in lockdowns. I still like the long-term prospects for Mastercard, given its digital capabilities and strong track record. Find out why Mastercard is one of the 10 best stocks to buy now Our award-winning analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed their ten top stock picks for investors to buy right now. Mastercard is on the list -- but there are nine others you may be overlooking. Click here to get access to the full list! *Stock Advisor returns as of June 7, 2021 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Mastercard. The Motley Fool has a disclosure policy.Source