Caterpillar sinks 4.7% on Wednesday, 9.6% by Thursday as AI trade cools

Caterpillar Inc. fell 4.7% on Wednesday, its sharpest one‑day decline since April, and was down about 9.6% by Thursday after five sessions, pulling back from a record high near $627.50. Analysts said skepticism about AI‑driven trades is weighing on AI‑linked names, while Caterpillar points to a November Vertiv partnership focused on on‑site power and cooling for data centers.