Caterpillar's Plunge Drives Dow Loss Amid Market Volatility

The Dow Jones Industrial Average (^DJI) took a hit today, losing just 0.17% despite being down for most of the day.

This minimal decline is largely due to Caterpillar (CAT), which plummeted by 4.9% and single-handedly removed around 255 points from the Dow.

Caterpillar's hefty price drop makes a big difference, as it is the second-heaviest weight on the Dow.

The stock has been trading at historically rich earnings multiples but is still up an impressive 103% over the last year.