Why MercadoLibre Stock Got Chopped Today
Shares of MercadoLibre (NASDAQ: MELI) fell today even though there was no news out on the Latin American e-commerce company. Instead, it was one of a number of high-growth stocks that pulled back sharply today as investors were spooked by fears of rising Treasury yields, which entice investors away from growth stocks and into other options like bonds.
MercadoLibre stock finished the day down 5.4% while the 10-year Treasury yield rose 1.6% to 1.48%.
Image source: MercadoLibre
Source Fool.com
