Why Baidu, PDD Holdings, and JD.com Fell This Week

Investors are less confident over whether stimulus can lift the Chinese economy out of its slump. Chinese stocks pulled back this week as investors questioned how much stimulus the Chinese government would implement. Doubt has also started to creep in about the direction of inflation and how much the Federal Reserve will cut interest rates in the U.S. Shares of the search engine giant and artificial intelligence company Baidu (BIDU -3.32%) declined more than 11% this week, as of late Thursday afternoon. Sha ...