NEW YORK: US stocks fell on Friday after July jobs data exceeded expectations, spurring worries that the Federal Reserve will continue raising interest rates and hurting sectors sensitive to higher borrowing costs such as homebuilders and banks.
Still, Baidu.com, Chinas largest web search company, referred to by many as “China’s Google,” stole the show as its stock price more than quadrupled on Friday, its first day of public trading.
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