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Shares in Caterpillar, the world’s largest construction equipment maker and a bellwether for global industrial stocks, saw its shares bomb more than 9% on Monday as it announced its biggest earnings miss in a decade.

As Maz Alamouti, head of dealing at Quilter Investors, explains, “Disappointing guidance in the third quarter wiped 7.5% off the shares; they fell more than 9% this week due to falling Chinese sales, trade tariffs, rising costs and currency losses.

“But the news isn’t as bad as the bears would have us believe; a good part of the EPS miss comes from a change in accounting practices to include restructuring costs-something that’s part and parcel of being a cyclical manufacturer.”