Caterpillar Down 9%, Nvidia Drops 14%

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Monday, January 28. Despite a late-day rally, all major U.S. stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. indexes closed down. The Dow Jones Industrial Average, S&P 500 and NASDAQ declined 0.9%, 0.8% and 1.1%, respectively. Meanwhile, bellwether manufacturer Caterpillar fell more than 9% after reporting lower-than-expected fourth-quarter earnings and weak guidance. Similarly, Nvidia’s stock plunged nearly 14% after the chipmaker reduced its revenue outlook by nearly 20% on concerns of a deteriorating Chinese economy.