BIDU is trading at $116.91 (-4.07%) as shares extend losses following a broader market decline driven by hawkish Fed sentiment and rising inflation fears.
- The sell-off erases gains from March 18, when a $5 billion buyback and dividend announcement briefly lifted shares by 3.2%.
- Macroeconomic pressures, including surging oil prices and Middle East tensions, weighed heavily on major indices in the previous session.
- While analysts maintain an average price target of $170, investor sentiment remains dampened by persistent weakness in the company's legacy advertising segment.