Baidu Says It’s Not Scared of Google
Baidu (BIDU) stock fell 8.0% following media reports indicating that Alphabet’s (GOOGL) Google is planning to re-introduce its online search service in China. Baidu is currently China’s top online search provider, controlling more than 73.8% of the country’s online search market, according to StatCounter. Microsoft’s (MSFT) Bing held about 1.1% of China’s online search market at the end of July.