Why Shares of MercadoLibre, StoneCo, and Nu Holdings Fell Today
Shares of several Latin American tech stocks struggled today along with the broader market, as investors continued to fret about volatility and the potential for a more severe recession in the near future.
Shares of the Uruguayan online marketplace MercadoLibre (NASDAQ: MELI) fell more than 4% today, shares of the Brazilian e-commerce tech company StoneCo (NASDAQ: STNE) fell roughly 7.5%, and shares of the Brazilian digital bank Nu Holdings (NYSE: NU) fell 7.4%.
Tech stocks continued their recent struggles, with the Nasdaq Composite falling roughly 2.85%. It was a bit of a funky day yesterday, with the yield on the U.S. 10-year Treasury bill topping 4% for the first time in a decade.
Source Fool.com
