Caterpillar Leads Dow Lower as a Stock Rally Fades 10/23/13
NEW YORK - The Standard & Poor's 500 index is pulling back from a record high as weaker corporate earnings disappoint investors.
Caterpillar led the Dow Jones industrial average lower after missing analysts' estimates for earnings and revenue.
Caterpillar's quarterly earnings plunged 44 percent and the company cut its outlook for the year again. Caterpillar dropped $4.89, or 5 percent, to $84.29.
Energy stocks fell the most in the S&P 500. The index had set record highs the previous four days in a row.
Markets also fell in Europe and Asia.