Wall Street drops at open on weak Caterpillar, Nvidia forecasts
Updated : January 28, 2019 09:23 PM IST
Shares of Caterpillar, the world's largest heavy equipment maker, fell 8.1 percent as its quarterly profit widely missed Wall Street estimates, hit by softening demand in China, a strong dollar, and higher manufacturing and freight costs.
Caterpillar was the biggest drag on the Dow and the S&P industrials index, which dropped 1.6 percent.
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