Why Caterpillar Stock Slumped by Nearly 4% on Friday

It seems that the current round of tariffs enacted by the current presidential administration is going to wound Caterpillar (NYSE: CAT) more than previously expected. On a new, not very encouraging revision of the impact of the levies on the industrial company's business, investors traded out of the stock on Friday. Ultimately, it closed the day almost 4% lower in price, which didn't look good next to the S&P 500 index's relatively modest 0.6% slip.After market close Thursday, Caterpillar divulged in a regulatory filing that it now expects to take a tariff-related hit to its fundamentals totaling $1.5 billion to $1.8 billion across this year. That means potentially several hundreds of millions of dollars more than the original forecast of $1.5 billion it provided within its second-quarter earnings report. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool