US stocks closed with all three major indices falling, with the S&P Nasdaq index seeing its largest weekly decline in three months. Technology stocks weakened, with Tesla down more than 4%, Nvidia down more than 2%, and CrowdStrike down more than 11%.

Investors accelerated their escape from technology stocks, with stocks and bonds in Europe and the United States being hit hard for two days. This week, the S&P 500 and Nasdaq fell by about 2% and 3.7%, respectively. The Nasdaq stopped its six-week continuous rise, while the Dow and small-cap indices rose by 0.7% and 1.7%, respectively. Chip stocks fell more than 3% on Friday and nearly 9% for the week. Nvidia also fell more than 8.7% for the past three months, making it the worst performer. The "seven sisters of technology" all fell for the week, and cybersecurity leader Crowdstrike, which triggered a global technology outage, fell 11% on Friday, the worst in nearly two years. The VIX panic index rose more than 32% for the week.

wallstreetcnJul 19 21:32 ET

Baidu Inc. (BIDU) Stock Moves -0.58%: What You Should Know

Yahoo FinanceJul 19 17:45 ET

Shanghai Auto Parts (603107.SH) has not yet become a supplier of self-driving cars for Baidu.

On July 19, Guolonghui reported that an investor asked Shanghai Auto Parts on the investor interaction platform, 'Does your company's product have a use in Baidu's self-driving cars?' The company replied that it has not yet become a supplier of Baidu's self-driving cars.

Gelonghui FinanceJul 19 06:32 ET

YaChuang Electronics (301099.SZ): Continuously provides high-quality distribution business and self-developed IC products for Baidu autos and other vehicle manufacturers.

Yachang Electronics (301099.SZ) stated on the investor interaction platform on July 19th that the company is bullish on the broad development space of the automotive industry with the development trend of electrification, intelligence, and networking of automobiles. The company's development strategy still focuses on the layout of the automotive electronics field. As one of the suppliers of Baidu Autos, the company will continue to provide high-quality distribution business and self-developed IC products for Baidu Autos and other vehicle manufacturers in the long term. Meanwhile, the company will do a good job in technical reserve support and can provide customers with professional software and hardware solutions to contribute to the development of the automotive industry.

Gelonghui FinanceJul 19 05:33 ET

Guangting Information (301221.SZ): Income from Baidu is relatively small and has a minor impact on the company's performance.

On July 19, GeLongHui reported that GuangTing Information (301221.SZ) recently received a specific inquiry regarding whether the company has any layout in robotaxi, and whether the company can provide the detailed information about its cooperation with Baidu or its subsidiary. The company responded that it has no cooperation with Baidu's sub-brand, Luobo Kuaipao, at present. In 2023, the company reached a strategic cooperation agreement with Baidu Intelligent Cloud, relying on Baidu's leading ability in big model, the two will jointly promote the research of super software factory based on big model application, and provide map data processing and testing technical services for Baidu's subsidiary. The company is from Baidu.

Gelonghui FinanceJul 19 04:46 ET

Hangzhou Zhongheng Electric (002364.SZ): Baidu is one of the customers of the company's datacenter power business.

Hangzhou Zhongheng Electric (002364.SZ) stated on its investor interaction platform on July 19th that Baidu is one of the customers of the company's datacenter power business.

Gelonghui FinanceJul 19 03:55 ET