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.
  • Buelldozer
    67•7 days ago

    Whelp, he’s toast. The last Prez to threaten that got domed while visiting Texas.

    • @randon31415
      37•7 days ago

      Bush threatened that. Then 9/11 happened.

      • Lexam
        20•7 days ago

        Literally was listening to NPR on the way to work that day and Rumsfield was on talking about making cuts to the military.

    • @Gammelfisch
      2•6 days ago

      Spot on. Johnson got the message and the 12 years were spent in SE Asia. In this case, the AI sector, especially Palantir Technologies, will be just as pissed off.