You can use the timer and stopwatch from the search results. Danny Sullivan announced on Wednesday that the timer was back in a twit.
The top result will be a timer that starts to count down if you type "set a timer for..." You can change the timer by clicking on the numbers that count down. Click the start button on the box that appears if you want to use the stopwatch. If one of the two appear in your search results, you can tab back and forth between the two.
Reports said the timer and stopwatch disappeared from search results in July. Sullivan confirmed on August 1st that they were unavailable due to an issue and that they would be back soon. Time things to your heart's content again now that they're back.