FTC and USDA Probe Farm Equipment Market; Deere, Caterpillar Shares Fall

The scope is the signal: two federal agencies examining dealer and repair practices suggests scrutiny is shifting from software and digital platforms toward the physical equipment layer of the economy. The synchronized selloff across Deere, Caterpillar, AGCO and CNH shows investors read this as sector-wide conduct risk rather than a single-company issue. Whether the probe stays narrow or broadens into dealer networks and right-to-repair access is the open question.