Caterpillar Drops 6% as Industrials Sell Off With Long Yields at a Two-Decade High; Deere Falls 4%, PACCAR Eases
Rising long-term borrowing costs are landing hardest on the companies that sell big machines on credit, and Caterpillar (NYSE:CAT | CAT Price Prediction) is absorbing the heaviest blow in the group. Caterpillar…