Defense stocks drop after Trump says Pentagon spending could be halved
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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They're going to 25 him if he goes close to do it.
More than this, the idea that the US will reduce defense spending at the same time as others are increasing it is laughable. The whole "NATO has to start pulling it's weight" thing will result in US military power diminishing vs the rest of the world and will result in more US military spending in the long term, not less.
it's almost as if an enemy agent is in the big chair
And another enemy agent is working right alongside him, hollowing out entire departments and agencies.
Oh no, that would be a tragedy.../s