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.
  • Nollij@sopuli.xyzEnglish
    44·
    7 days ago

    I’m guessing this is all just a ploy to make Lockheed, Northrup, and Raytheon kiss the ring.

    Next week, all the classified work will be contracted to them for a steal of only thrice the price, but only once they’ve publicly kissed his ass enough.