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.
  • pixeltree
    1·
    21 hours ago

    If he guts the MIC I will be extremely pleasantly surprised.

    • omega_x3@lemmy.world
      2·
      20 hours ago

      Or MIC will just arrange for another president that won’t cut their funding. Either is a net positive.