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NEW YORK - Shares of machinery companies tumbled to close significantly lower Thursday, along with the bulk of the market, after a day filled with bad news including a new record high for oil.
Oil's surge past $140 a barrel, along with warnings about the key financial, automotive and high-tech industries added up to an increasingly troubled economy.
The Dow Jones industrials dropped nearly 360 points to their lowest level in nearly two years.
How some machinery stocks closed Thursday:
Manitowoc Co., down $2.61, or 7.1 percent, at $34.16.
Terex Corp., down $5.53, or 9.4 percent, at $53.64.
Cummins Inc., down $5.87, or 8.1 percent, at $66.70.
Caterpillar Inc., down $2.30, or 3 percent, at $74.28.
Deere & Co., down $1.78, or 2.4 percent, at $71.50.
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