Stocks plunged on Tuesday, Oct. 23, as investors focused on slowing economic growth and simmering geopolitical tensions and earnings from blue chips Caterpillar Inc. (CAT – Get Report) and 3M Co. (MMM – Get Report) disappointed.
The Dow Jones Industrial Average declined 125 points, or 0.50%, to 25,191; at its lows for the day the index declined 548 points. The S&P 500 tumbled 0.6% and the Nasdaq fell 0.4%.
Caterpillar Inc. (CAT – Get Report) fell 5.9% on Tuesday after suggesting that increased demand had created some supply chain challenges even though it beat third-quarter earnings and revenue estimates.
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