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Why Heavy Equipment Manufacturer Stocks Are Falling Today
Wall Street's initial reaction to the new tariff policies announced Wednesday night is not positive, and manufacturers of heavy equipment are reacting worse than the overall market.Shares of Caterpillar (NYSE: CAT) and Toro (NYSE: TTC) were each down more than 6% as of 1 p.m. ET, while shares of Deere (NYSE: DE) were down 4%.An aggressive round of tariffs caught the markets off guard, with investors trying to assess the impact to the companies they own while also watching closely for signs trade partners could retaliate.Continue reading
Wall Street's initial reaction to the new tariff policies announced Wednesday night is not positive, and manufacturers of heavy equipment are reacting worse than the overall market.
Shares of Caterpillar (NYSE: CAT) and Toro (NYSE: TTC) were each down more than 6% as of 1 p.m. ET, while shares of Deere (NYSE: DE) were down 4%.
An aggressive round of tariffs caught the markets off guard, with investors trying to assess the impact to the companies they own while also watching closely for signs trade partners could retaliate.
