Caterpillar Stock Drops as FTC and USDA Seek Comments

Caterpillar Inc (NYSE: CAT) shares fell 6.04% to $811.37 as farm equipment stocks declined following a joint inquiry by the Federal Trade Commission (FTC) and the U.S. Department of Agriculture (USDA) into the agricultural equipment industry's operations. The inquiry seeks public comment on potential anticompetitive behavior and aims to address complaints from farmers regarding obstacles in purchasing equipment and obtaining services. Although Caterpillar was not specifically named in the inquiry, its stock drop reflects broader concerns within the sector.