🇺🇸 US defense stocks slide as Wall Street bets on Democrats taking Congress
According to the Financial Times, the main US aerospace and defense ETF fell 16% from July to mid-October, while the S&P 500 rose 3.5%. Investors are betting a Democratic win in next month's midterms would kill Trump's planned $500 billion boost in military spending.
Lockheed Martin is down over 20% from its March peak, Northrop Grumman and L3Harris around 35%. Analysts say Trump's pet projects like the "Golden Dome" and "Trump-class" battleships would be the first on the chopping block.
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🇺🇸 US defense stocks slide as Wall Street bets on Democrats taking Congress According to the Financia
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