Shares of Baidu Inc. and other major Chinese technology companies experienced a significant downturn on Monday, October 13, 2025, as renewed trade hostilities between the United States and China created widespread market anxiety. Baidu's NASDAQ-listed stock (BIDU) fell by as much as 10.2% as former President Trump's threats of new tariffs rattled investors. The sell-off was broad, affecting Hong Kong's Hang Seng index and mainland China's CSI 300. This negative market reaction occurred despite positive assessments from financial institutions on the same day. Macquarie upgraded Baidu's Hong Kong-listed shares (9888.HK) to "Outperform" and significantly raised its price target, citing the company's diversification into AI cloud and robotaxis. Citigroup also increased its price target for Baidu, maintaining a "Buy" rating. An analysis published on the day highlighted the ongoing challenges in Baidu's core search business, with advertising revenue declining, but pointed to the strategic pivot to AI and cloud services as critical for future growth.