Caterpillar’s stock sinks to 10-month low, to pace Dow decliners
Shares of Caterpillar Inc. CAT, -3.54% sank 3.4% in morning trade Wednesday, to pace the 26-of-30 Dow Jones Industrial Average DJIA, -1.18% components that are losing ground. The Dow dropped 288 points, as investors expressed concern over Turkey’s currency crisis. The machinery maker’s stock, which fell to the lowest level since Oct. 19, 2017, have lost 8.6% since second-quarter results were reported on July 30. The stock is now the Dow’s biggest decliner on a 3-month and year-to-date basis. Among the Dow’s other biggest losers Wednesday, shares of Boeing Co. BA, -2.79% gave up 2.6%, of Chevron Corp. CVX, -2.97% slid 2.5%, and of Microsoft Corp. MSFT, -1.48% shed 2.1%. The biggest gainer was Pfizer Inc.’s stock PFE, +0.71% which tacked on 0.7%.
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