President Donald Trump touches a piece of equipment made by Caterpillar while touring a Made in America product showcase with Vice President Mike Pence on the South Lawn of the White House on July 17, 2017.

Investors should be cautious of companies with a high exposure to the China market as fears of Asia's largest economy slowing down continue to spook markets, experts said.

Earlier this week, shares of U.S. bellwethers such as Nvidia and Caterpillar took a hit after issuing disappointing earnings reports — with both companies blaming China's slowdown.

Sectors such as information technology, semiconductor, industrial and consumer discretionary have a large exposure to the Greater China market, said Margaret Yang, market analyst at CMC Markets.

She singled out companies such as Qualcomm, Micron Technology, Broadcom, Texas Instruments and Intel.

Goldman Sachs last week had also warned its clients about companies with big revenues from China. In addition to Qualcomm, Micron Technology and Broadcom, it listed Nvidia, Qorvo, Skyworks Solutions and Wynn Resort.

"Caterpillar and Nvidia's earnings miss ignited fear that China's slowdown is perhaps far more severe and impactful to the American companies with large exposure to the Greater China market against the backdrop of unsolved trade disputes," Yang told CNBC in an email.

On Monday, the shares of construction machinery giant Caterpillar fell 9.1 percent after it posted weaker-than-expected fourth quarter earnings. Chipmaker Nvidia's shares also tanked 14 percent after it cut its revenue forecast.

Caterpillar attributed its declining sales to lower demand in China, while Nvidia laid the blame on "deteriorating macroeconomic conditions, particularly in China."