I don't know if I would say that. This is usually what happens at the commencement of a recession. Things sell off. It's not just this stock. Any sign of bad news is met with selling until the stock is oversold.
Personally, I have some cash to invest, and I am looking around for bargains. ABB might be one of them at some point. Not sure this is the right day, though. There are a lot of bargains to choose from.