Caterpillar stock slides 3.6% as oil spike shakes industrial bellwethers
Caterpillar shares fell 3.6% to $706.08 on Thursday, hitting a low of $693.81 amid rising oil prices and market volatility tied to Middle East tensions. The Dow dropped as much as 1,100 points, with Caterpillar and Goldman Sachs accounting for about 443 points of the decline. Deere & Co. also fell 3.8%. Caterpillar said it may need over 38,000 new technicians by 2028 as infrastructure demand grows.