On Oct. 7, the Federal Trade Commission (FTC) and the U.S. Department of Agriculture (USDA) launched a joint public inquiry impacting the agricultural equipment industry. Specifically, the agencies are looking at issues involving potential anticompetitive conduct in the way equipment is being manufactured and distributed.
The news sent agricultural equipment stocks plummeting. Deere & Co. (NYSE: DE) dropped 3.8%, AGCO (NYSE: AGCO) fell 6.2%, CNH Industrial (NYSE: CNH) fell 6.1%, and Caterpillar (NYSE: CAT)—one of 2026's strongest stocks—dropped by 5.9%.