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Baidu Leads Internet Drop as IMF Cuts Economic Outlook

Chinese stocks in New York fell for a second day, led by Internet companies, as the International Monetary Fund reducing its global growth estimates clouded the outlook for the world’s largest exporter.

The Bloomberg China-US Equity Index of the most-traded Chinese companies in the U.S. slid 0.3 percent to 91.82 yesterday, after dropping the most in two weeks on Oct. 8. Baidu Inc., owner of China’s most-popular search engine, sank to a three-month low after Credit Suisse Group AG became the third bank to cut its rating this month. China Eastern Airlines Corp. fell for the first time in six days to trade at the biggest discount to its Hong Kong stock in two weeks.