Shares of MercadoLibre Inc. are heading for their biggest two-day slump since November on concern that Amazon.com Inc.’s latest move in Brazil will ramp up competition in the e-commerce segment.
The stock extended Tuesday’s selloff, dropping as much as 5.8% on Wednesday to as low as $2222.52, its weakest intra-day level since May 7. That followed a 6.6% decline the prior session.
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