Caterpillar is trading 3.1% down at $682.20 as higher oil prices and broad market weakness pressure industrials. - The steep selloff began during the October 22 session; reports linked it to an AI-infrastructure trade unwind and risk-off sentiment, rather than a new company announcement. - On October 23, Middle East tensions are contributing to higher oil prices, while the industrials sector is also down. - No clear company-specific catalyst for the current move was identified.