Shares of Caterpillar and 3M were each down nearly 10% in mid-morning trading -- and that was a big reason why the Dow plunged more than 500 points.  CREDIT: Michael Nagle/Bloomberg via Getty Images

Shares of Caterpillar and 3M were each down nearly 10% in mid-morning trading -- and that was a big reason why the Dow plunged more than 500 points. CREDIT: Michael Nagle/Bloomberg via Getty Images

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Caterpillar, 3M sink on weak outlooks

Weak outlooks from a pair of industrial giants sent stocks into a tailspin Tuesday. Shares of Caterpillar (CAT) and 3M (MMM) were each down nearly 10% in mid-morning trading -- and that was a big reason why the Dow plunged more than 500 points.