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Joy Global Plummets After Cutting 2015 Forecasts on Miner Demand

Joy Global Inc., the world’s biggest manufacturer of underground mining equipment, fell the most in six years after cutting its forecast for 2015 earnings and revenue amid a global commodity downturn.

Joy tumbled 16 percent to $18.64 at 10:23 a.m., after earlier dropping as much as 20 percent, the most intraday since November 2008. It was the biggest decline today in the Standard & Poor’s 500 Index. Joy’s shares have plunged 60 percent this year as struggling miners buy less machinery.

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