US STOCKS-Wall St falls sharply as Caterpillar weighs
* Caterpillar hits 5-year low after sales forecast cut
* Nine of 10 S&P sectors lower, industrials fall most
* Investors await Yellen speech at 5 p.m. ET
* Indexes down: Dow 1.5 pct, S&P 1.3 pct, Nasdaq 1.5 pct (Adds details, changes comment, updates prices)
By Tanya Agrawal
Sept 24 (Reuters) - U.S. stocks fell about 1.5 percent in late morning trading on Thursday as Caterpillar's sales forecast cut dragged down industrials and exacerbated concerns of slowing global economic growth.
Caterpillar fell as much as 7.9 percent to its lowest level since 2010 after the world's biggest mining and construction equipment maker slashed its 2015 revenue forecast and said it could cut up to 10,000 jobs.
"The (Caterpillar) news is not helping matters, it's emblematic of a weaker global economy," said Joseph Quinlan, chief market strategist for U.S. Trust, in New York.
People shouldn't be surprised but when you get those big headline numbers, that subtracts from confidence obviously." Continuación...