Why GE Aerospace, Deere, and Caterpillar Stocks Slumped Today
Even amid stock market turmoil, valuations still matter.
So, how is everyone enjoying the roller coaster this morning?
From April 2 to April 8, the S&P 500 index of America's 500 biggest companies fell more than 12%, before surging back 9.5% yesterday alone as investors cheered an apparent 90-day delay in the imposition of President Donald Trump's reciprocal tariffs on just about every country we trade with (except China). One overreaction led to another, but this morning, investors are already having second (or is it third?) thoughts about just how good even this good news can be, when things seem so uncertain in the stock market right now.
As I type these words, for example, at 10:12 a.m. ET the S&P is down again -- 3.1%. Even blue chip industrial stocks are feeling kind of queasy, as GE Aerospace (NYSE: GE) gyrates 2.8% lower, Deere & Co. (NYSE: DE) stumbles 3.1%, and Caterpillar (NYSE: CAT) is particularly cranky with a 4.3% loss.
