- Shares of African e-commerce company
Jumia dropped nearly 10% on Thursday, while Argentina-basedMercadoLibre were down more than 7%. - The drop follows $4 across Africa, South America, and Europe.
Two leading e-commerce companies in Africa and South America saw their stock tumble on Thursday, following $4 to further expand into those regions.
Jumia, a leading online marketplace provider in Africa, saw its shares drop nearly 10% as of Thursday afternoon. MercadoLibre, the largest e-commerce company in Latin America with services across Brazil, Argentina, and Chile, slipped more than 7%.
The declines come amid broader market rout this week after the Federal Reserve announced the $4. The S&P 500 was down about 2.9% as of Thursday afternoon, while the Nasdaq Composite dropped 3.6%.
All countries are expected to get their own marketplace and access to Amazon's fulfillment service called Fulfillment by Amazon, the documents said. Amazon also plans to bring its Prime membership program to each of the countries shortly after the launch, it said.
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