Defense stocks drop after Trump says Pentagon spending could be halved
Defense stocks drop after Trump says Pentagon spending could be halved
www.cnbc.com Defense stocks drop after Trump says Pentagon spending could be halved
Shares of Northrop Grumman and Lockheed Martin were under pressure after President Donald Trump raised the idea of large cuts to defense spending.
KEY POINTS
- Defense stocks dropped sharply Thursday afternoon after President Donald Trump suggested the U.S. could massively cut defense spending.
- Trump has sent mixed messages on military spending throughout his 2024 campaign and in the early days of his presidency.
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