Baidu shares fell 0.88% to $121.05 in pre-market trading on October 21, 2025, following a 1.76% gain to $122.12 on October 20. The stock has shown volatility over the past week, ranging from $119.94 to $125.72. No company-specific announcements were identified for October 21. The pre-market decline likely reflects broader concerns about US-China relations, as President Trump warned of potential 155% tariffs on Chinese imports starting November 1 if no trade deal is reached. Chinese tech stocks remain particularly sensitive to geopolitical tensions despite upcoming Trump-Xi summit plans. US equity futures traded modestly lower, with Nasdaq-100 futures down 0.16%, while Asian markets closed higher with Shanghai Composite up 1.4%.