Here's Why Baidu's Stock Fell 16% Last Month
Baidu, Inc. (NASDAQ: BIDU), the tech company best known for being the leading search engine in China, saw its share price tumble 16% in March, according to data provided by S&P Global Market Intelligence. The company couldn't escape the broader stock sell-off as investors came to grips with the impact of COVID-19 on the global economy.
China-based companies have been feeling the effects of the coronavirus crisis for a few months now, and even a large tech company like Baidu hasn't been spared. The company's 16% share-price drop in March came after the company's stock slid 3% in February and more than 2% in January.
Image source: Getty Images.
Source Fool.com
