Shares of 3M Co fell 11 percent on April 25 after the U.S. manufacturing conglomerate cut its 2019 earnings forecast and said it would lay off 2,000 workers, citing worsening performance in high-growth markets such as China.
The stock’s worst day in more than three decades dragged down the Dow Jones Industrial Average, and added to the gloom across the manufacturing sector following bleak results from Caterpillar Inc and United Parcel Service Inc.
