Facebook's new Graph Search has the potential to make the site a lot more useful for users, which is making some of the company's competitors nervous. Stock in Yelp, which has competed with Facebook's Places and business pages for years, fell eight percent today to just $20 per share on the announcement of the new search system.

Graph Search will plug users into the businesses and restaurants liked by their friends, meaning potentially less eyeballs for Yelp, which thrives on its ability to recommend businesses based on its own data.

It will be interesting to see whether or not Graph Search does actually supplant various other types of searches people do online (be they on Yelp or Google), considering that search has never been a strong suit of Facebook's in the past.

[via Mashable]