The market melt-up got replaced by a ham sandwich today after both Caterpillar
Leading the charge lower was a tepid growth forecast through 2015 from heavy-duty manufacturing giant Caterpillar. As a mainstay of the manufacturing sector, its slow-growth forecast and primary focus on cost control bode poorly for global growth.
Greece's problems are also never-ending. The highly indebted nation may need to ask its eurozone partners to roll over tens of billions in debt; otherwise, it may need to borrow more money at market rates by as early as 2015 to cover its interest payments.
Let's have a quick glance at a few other companies moving the S&P 500 in a big way today.
Not surprisingly, one of Caterpillar's biggest competitors, Joy Global
Office-supply chain Staples
It wasn't doom and gloom for all 500 companies, however, as grocer Safeway
Did you catch the number of that dump truck?
Should Caterpillar's growth forecast send investors scurrying for a cave to hide in? Find out the answer to this question and much more by getting your copy of our latest premium research report on Caterpillar. Packed with in-depth and unbiased analysis on the opportunities and threats facing Caterpillar, and complete with a year of regular updates, this report will give you the edge needed to make smart long-term investing decisions. Click here to get your copy.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
The Motley Fool owns shares of Joy Global and Staples. Motley Fool newsletter services have recommended buying shares of Staples. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Scared of a Crash? It's Still Cheap to Protect Yourself
Use a simple strategy to reduce your risk.
Does a Strong Start Make 2018 a Sure Winner for Stocks?
Find out whether the so-called "January effect" is real.
If Tax Reform Fails, Will Stocks Suffer?
Probably. But some stocks would suffer less than others.