3M's stock is currently falling primarily due to several interrelated reasons:

• Legal challenges and significant litigation costs, including $2.2 billion in after-tax payments related to Public Water Systems and Combat Armsplugs, have raised investor concerns about the company's financial stability.

• The company has lowered its full-year revenue growth expectations amid ongoing softness in key markets such as consumer electronics, automotive aftermarket, and auto original equipment sectors, which are underperforming compared to prior expectations.

• Despite raising margin, earnings, and cash flow guidance, 3M's operating cash flow showed a deficit linked to litigation expenses, and its earnings reported under GAAP fell substantially, causing worry among investors.

• Ongoing market uncertainties include global trade tariffs, a strong US dollar impacting overseas sales, consumer spending weakness, and economic slowdowns in key regions like China, which affect 3M's revenue streams.

• The company's financials reflect a burden of liabilities close to total assets, showing some financial stress despite operational improvements.

Overall, these financial headwinds, together with cautious outlooks and external risks, are leading to the current fall in 3M's stock price despite some operational progress by management.