Caterpillar Drops 6% as Industrials Sell Off With Long Yields at a Two-Decade High; Deere Falls 4%, PACCAR Eases

Caterpillar shares fell 6% to $811 as rising long-term borrowing costs weigh most heavily on companies selling large machines on credit, according to the article. Caterpillar is described as taking the heaviest hit in the group.