Michael Burry shorts Caterpillar, sending shares down from record high

Caterpillar's stock fell from a record high after Michael Burry, famed for betting against the US housing market ahead of the 2008 financial crisis, disclosed he had shorted the industrial giant for the first time. The company's shares had been rallying on AI-driven investor optimism. Burry's move triggered a sharp sell-off in the stock.