3M's stock (MMM) plummeted 5.47% during the intraday session on Tuesday, underperforming the broader market as the company's annual profit forecast fell short of expectations and geopolitical tensions weighed on investor sentiment.

The industrial conglomerate reported Q4 adjusted earnings of $1.83 per share, beating estimates, but its FY2026 guidance of $8.50-$8.70 in adjusted EPS was slightly below the FactSet consensus of $8.64. This cautious outlook disappointed investors, despite the company's revenue growth and margin improvements.

Additionally, the stock was dragged down by a broader market selloff triggered by President Donald Trump's threat to impose tariffs on eight European countries unless they allow the U.S. to acquire Greenland. The Dow Jones Industrial Average, of which 3M is a component, was down over 600 points at the time of the drop.