There are no prizes for guessing the main reason for the 3% decline in Caterpillar's (CAT -2.73%) share price to late afternoon today. Higher-than-expected inflation data dampened hopes for an early interest rate cut, and that's not good news for highly cyclical stocks like Caterpillar. Caterpillar's cyclicity The company is often seen as highly sensitive to the economy due to its exposure to construction (an activity that decreases as the cost of borrowing rises), mining (industrial metals rely on the econ ...