Why Did MercadoLibre Fall Last Week?

September was a rough month for the stock market, and that's especially true for high-potential tech stocks like MercadoLibre (NASDAQ: MELI). The last week of the month was particularly rough for the Latin American e-commerce and fintech giant, as shares ended down 11%.

The good news is that MercadoLibre's poor performance doesn't appear to be the result of any company-specific headlines and is mainly fueled by market weakness. After all, the tech-heavy Nasdaq was by far the worst-performing of the three major indices over the past week, and many high-growth stocks in addition to MercadoLibre saw steep declines.

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Source Fool.com