Shares of Caterpillar Inc. (CAT) are losing more than 6 percent or $11.14 in Wednesday's morning trade at $156.55 despite no company-specific news.
U.S. stocks are rising on Wednesday amid signs that the U.S. elections will not result in a "blue wave" that sees the Democrats reclaiming both the White House and the Senate. Votes are still being counted in a number of key swing states, but traders seem optimistic that Democrats will not take control of the Senate and roll back key tax cuts.
Caterpillar is a manufacturer of construction and mining equipment, diesel and natural gas engines, and industrial gas turbines.
Caterpillar has traded in a range of $87.50 to $171.26 in the past 52 weeks.
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