Utilize the input text as a context reference, choose the right relationship between Baidu and Nasdaq from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

But the results were below market forecasts, and Baidu shares tumbled 8.69 percent to $180.50 in after-market trading on the Nasdaq that followed release of the earnings figures.

Answer: stock_exchange