Caterpillar's stock selloff shaves nearly 100 points off the Dow's price
If it wasn't for the selloff in Caterpillar Inc.'s stock (CAT), after the construction equipment maker reported third-quarter results, the Dow Jones Industrial Average would be headed for a nice gain at Tuesday's open. Caterpillar's stock sank 5.9% toward a 4 1/2-month low in the premarket. The implied price decline would cut 96 points off the Dow's price, while Dow futures (YM00) were down 3 points, or less than 0.1%. Caterpillar's stock has already dropped 11.3% in October through Monday, so Tuesday's decline puts it on track to suffer the biggest monthly drop since it sank 17.2% in June 2022.
-Tomi Kilgore
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10-31-23 0913ET
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