U.S.-listed shares of Baidu Inc BIDU.O gained 3.5% after China's search engine giant posted upbeat quarterly revenue, underpinned by growth in its cloud business. The benchmark S&P 500 index .SPX has slumped nearly 4% since Fed Chair Jerome Powell's Jackson Hole speech last week reaffirmed the central bank's determination to raise interest rates to tame inflation despite a slowing economy. Bets on the size of upcoming rate hikes have been fairly volatile in recent weeks, with traders pricing in a 66.5% chance of a third straight 75 basis points increase in September.