Baidu Inc is trading 10.1% down at $121.17 as investors dump tech and AI names following a strong recent rally.
- The decline aligns with a broader pullback in growth stocks tied to higher-for-longer interest rate expectations.
- Sentiment has weakened across the AI and chip sectors following disappointing earnings and outlooks from industry peers.
- The move appears driven by macro-economic factors rather than any company-specific news or guidance changes from Baidu Inc.