Concerns over a slowdown in the Chinese economy hung over Wall Street on Monday as warnings from several top U.S. companies rippled through the equity exchanges.

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Industrial firms took a beating on the weaker-than-expected earnings from Caterpillar in the fourth quarter. Profits at the firm were $2.55 per share in the three months through December, below analyst expectations and underscored weakness in China.

‘We are forecasting the overall China market to be roughly flat in 2019 following two years of significant growth,” CEO Jim Umpleby told investors.

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