Shares of Baidu Inc. (NASDAQ: BIDU) plummeted today as investors feared that the China-based tech giant may receive increased oversight from Chinese regulators, in addition to threats from the U.S. about potential delistings of foreign stocks.
The tech stock fell by 13.4% today.
Investors have grown jittery about Chinese technology stocks recently for a couple of reasons. First, the U.S. Securities and Exchange Commission (SEC) has threatened to kick foreign companies off of U.S. exchanges if they don't adhere to U.S. auditing practices.
Source Fool.com