(Reuters) - U.S. stocks fell sharply on Tuesday, with Microsoft and Caterpillar shares tumbling after quarterly results, while an unexpected decline in durable goods orders also weighed on sentiment.
Microsoft (MSFT.O) fell 10 percent to $42.27 the day after the Dow component reported results. The main engine of its historic earnings power, selling Windows and Office to big businesses, is showing signs of waning.
Shares of construction and mining equipment maker Caterpillar (CAT.N) fell 7.5 percent to $79.52 after its net profit came in below market expectations. [ID:nL1N0V60RE]
Many multinational companies have posted disappointing results and forecasts, with the stronger dollar a common culprit.
Microsoft (MSFT.O) fell 10 percent to $42.27 the day after the Dow component reported results. The main engine of its historic earnings power, selling Windows and Office to big businesses, is showing signs of waning.
Shares of construction and mining equipment maker Caterpillar (CAT.N) fell 7.5 percent to $79.52 after its net profit came in below market expectations. [ID:nL1N0V60RE]
Many multinational companies have posted disappointing results and forecasts, with the stronger dollar a common culprit.