🔴 Caterpillar is trading 4.2% down today after its earnings outlook disappointed investors

Caterpillar is trading at $621.31, down 4.17%, as its earnings outlook disappointed investors.

• The decline extends the selloff that began October 29, when Caterpillar fell 9.25%; the company maintained its full-year revenue growth forecast, while reports said its fourth-quarter sales outlook disappointed.
• The report cited a record backlog and strong demand, but results only modestly exceeded expectations and revenue slightly missed some estimates.
• Weak broader sentiment, technology selling and AI-spending concerns also weighed on U.S. equities.