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Caterpillar, Agriculture Machinery Stocks Fall on FTC, USDA Equipment Inquiry

MT Newswires Live
Yesterday

Caterpillar (CAT) shares and other agricultural machinery stocks fell in Wednesday trading after the Federal Trade Commission and the US Department of Agriculture opened a joint inquiry into the agricultural equipment market, including potential anticompetitive practices.

The inquiry aims to address growing complaints from farmers about barriers to buying agricultural equipment and accessing parts and services, the agencies said Wednesday in a statement.

The regulators are asking farmers, independent repair providers, and current or former employees of equipment manufacturers and dealers to comment on issues.

Caterpillar shares fell 6.2%, CNH Industrial (CNH) dropped 5.9%, and AGCO (AGCO) declined 6%.

Price: 810.13, Change: -53.31, Percent Change: -6.17

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